GOOGL tests $300 as markets weigh AI spending risks
Under selling pressure, Alphabet Inc. shares broke below support around the $295 level and fell toward a strong demand zone near $274.
In addition to the broader risk-off mood in the market, investor concerns over rising spending on artificial intelligence weighed on the stock, as higher AI-related costs could pressure the company earnings.
Even so, the medium-term outlook remains constructive. The current decline is likely corrective in nature and may be viewed as an opportunity to build long positions.
At the moment, the Alphabet stock is rebounding and attempting to break back above and hold the psychological $300 level. The next significant resistance stands near $310.
As long as the price remains below that level, the risk of renewed downside remains, with a possible retest of the $290-$280 range.
A clear breakout and sustained move above $310 would open the way for a rise toward $330-$350.
Even if the stock refreshes current lows and declines into the $260-$240 area, such moves may still be viewed as buying opportunities within a broader bullish outlook.
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