Usman Salis
⬤ Alphabet's Class C shares broke out decisively, pushing past the $290 resistance zone that had capped gains for weeks. The stock jumped more than 5% during the session, bringing GOOG within striking distance of $300. This move confirms the uptrend that's been building since early October, with the stock now trading comfortably above its 20-day, 50-day, and 100-day moving averages.
⬤ The breakout came after GOOG spent several weeks testing the $289-$290 area without success. Monday's sharp rally changed that, with strong volume behind the move showing real buyer conviction. The stock closed well above the consolidation range and hit intraday highs near $300, marking one of its best daily performances this quarter. All three key moving averages continue pointing higher, backing up the bullish price action.
⬤ Tech stocks have been catching a bid lately, and GOOG is riding that wave. The chart shows a clean pattern of higher highs and higher lows stretching back to October. With the stock now holding above what used to be resistance, traders are watching to see if GOOG can keep its footing above $290 and make a run at the next level. As one of the heaviest weights in tech indexes, GOOG's strength often reflects broader appetite for growth stocks and confidence in the sector's earnings power.
Usman Salis
