Victoria Bazir
⬤ Alphabet Inc. shares have bounced back impressively, with GOOGL climbing more than 40% from a key technical support zone. The stock found buyers in the Blue Box area, sparking a powerful upward movement that's kept going. Right now, Alphabet is taking a breather after this rally, but it's still sitting comfortably within a larger bullish Elliott Wave pattern.
⬤ The chart shows GOOGL's climb followed a textbook impulsive structure that fits Elliott Wave theory. After rebounding from the Blue Box zone, the stock broke through previous resistance and accelerated toward the mid-$250s. What's happened since looks more like a healthy pause than any kind of reversal, which tells us this upward trend probably isn't done yet.
⬤ The technical roadmap points to Alphabet moving into the next leg of its bullish phase. Elliott Wave analysis suggests higher prices are on the table, with a potential target around $340 if things play out as expected. There's also a clear invalidation level below current prices that would signal the bullish scenario is off the table, giving traders concrete boundaries to work with.
⬤ This setup matters because of Alphabet's massive footprint in major stock indices. When GOOGL shows strength like this, it often influences how investors feel about the entire tech sector and the broader market. A 40% rally from key support, combined with a clean Elliott Wave structure, explains why so many market watchers are keeping close tabs on Alphabet's price action right now.
Victoria Bazir
