Peter Smith
GOOGL spent the better part of recent weeks building toward a potential breakout, only to fall short. The stock ran out of momentum just below the $321-$322 resistance zone and has since pulled back to close around $307. It's the kind of failed move that tends to shift the short-term bias — and right now, that bias is leaning bearish.
Failed Breakout at $321 Puts Bears in Control
The inability to clear $321 is the defining development on the chart. Price action has turned choppy and indecisive in the aftermath, and the technical indicators aren't doing bulls any favors.
RSI has drifted toward the midpoint, MACD remains in negative territory, and volume picked up during the recent decline. That combination — fading momentum with expanding sell volume — is worth paying attention to, especially given that Alphabet recently recorded its largest weekly selling volume since 2022 with 170M shares traded.
$302-$304 Is the Line in the Sand
With the breakout attempt behind it, the $302-$304 support zone is now the key level to watch. It has acted as a reliable pivot over recent months, and price is currently hovering just above it. A hold here could give the chart some breathing room and allow bulls to reassess. A break below $302, however, opens up a much more uncomfortable conversation — the next downside target sits in the $286-$291 range.
There's also a potential head and shoulders pattern developing on the daily timeframe. Confirmation would require a clear breakdown of current support, but the structure is worth monitoring. Alphabet's forward P/E recently hit 28.6, surpassing Nvidia's 25.7 — which means any technical deterioration will be viewed through a valuation lens as well.
Given how heavily weighted Alphabet is in major indices, the outcome at this support level matters beyond just the stock itself. A breakdown could ripple into broader tech sector sentiment at a sensitive time. For those tracking the fundamental side alongside the chart, Alphabet shares have also been climbing on AI strength — making the technical picture all the more worth watching.
The $302-$304 zone is the decision point. What happens there will likely define GOOGL's next meaningful move.
Peter Smith
