Alphabet Inc. - (GOOG)

by SIACharts.com

Google parent Alphabet (GOOG) recently returned to the Green Favored Zone of the SIA S&P 100 Index report from a brief dip into the Yellow Zone.

Alphabet (GOOG) broke out to a new all-time high yesterday, confirming ongoing accumulation and signaling the start of a new advance in an uptrend which started back in March. Next potential upside resistance appears near $1,900 then $2,050 based on measured moves, along with the $2,000 round number. Initial support appears near $1,610 just above $1,600.

Alphabet (GOOG) shares completed a bullish Spread Double Top pattern last month with a breakout over $1,550 and have continued to advance, breaking through $1,725 yesterday. Next potential upside resistance tests on trend appear near $1,956, then $2,035 based on vertical and horizontal counts, with the $2,000 round number in between them. Initial support appears near $1,605 based on a 3-box reversal.

With a bullish SMAX score of 9, GOOG is exhibiting near-term strength against the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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