Peter Smith
⬤ Alphabet Inc. Class A (GOOGL) is holding firmly above its one-hour trend line, showing solid bullish structure in recent trading. The stock bounced from the Value Area High and the upper edge of its recent range. Instead of breaking down, GOOGL is consolidating near recent highs, with buyers stepping in to defend key intraday support levels.
⬤ The hourly chart shows a clean pattern of higher lows and higher highs, backed by rising moving averages that have acted as support during the climb. After pushing higher from lower levels, GOOGL formed several consolidation zones that each resolved to the upside. The latest pullback found support near prior range highs—an area that's now flipped from resistance to support, reinforcing the bullish setup.
⬤ Price is sitting in the low-to-mid $330s, staying above the rising one-hour trend line that's guided the move over recent weeks. There's a visible price gap sitting below the current range, but price action hasn't dropped into that zone yet. As long as GOOGL stays above its hourly trend and range support, the structure keeps favoring another bounce, with conditions still supporting upside attempts.
⬤ This matters because when a stock holds above trend support without breaking down, it usually signals continued demand rather than distribution. GOOGL's ability to hang at elevated levels without much downside follow-through points to underlying strength in the short-term structure. While brief pullbacks are normal after strong runs, the current behavior keeps the focus on whether the stock can push higher while holding its bullish intraday trend.
Peter Smith
