Stock of the day: Google

Alphabet — better known to traders as Google — just delivered an earnings surprise that’s lighting up the market. After reporting better-than-expected results on Thursday after the market close, Alphabet shares are currently trading around 5% higher in the pre-market.

Let’s break down what’s happening technically:

Chart Setup and Price Action

The chart paints a clear picture of bullish momentum:

• Orange horizontal support has proven to be reliable, catching recent dips and acting as a launchpad for the current upswing.

• A purple downtrend line, in place since early April, has been decisively broken, clearing a key technical hurdle.

• Yesterday’s session saw a strong upward move — likely a result of earnings anticipation — and now, with the earnings release confirming the bullish outlook, we are seeing a potential continuation.

What’s Next?

With the breakout confirmed and positive sentiment driving early trading, Alphabet looks poised to reach the $200 level — a significant psychological and technical target.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-google-7