Alphabet shares extend gains on strong earnings
Strong quarterly earnings continue to support demand for Alphabet Inc. shares, allowing the price to break through a number of resistance levels and reach the $330-$332 area.
Pullbacks remain limited, pointing to steady buying interest and keeping the chances high for a break above the current resistance, followed by a move toward the highs in the $344-$348 range. Sellers may become more active near those levels, but declines into the $336-$328 range may still be viewed as opportunities to open long positions.
A loss of support at $328 would increase the risk of a decline toward $320-$315, where buying interest is also likely to return. Overall, the long-term outlook for the Alphabet stock remains constructive.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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