GOOG - 1W - Start of Bullish Momentum
Although Alphabet (GOOG) has underperformed the S&P 500 this year, momentum may be shifting.
The stock recently broke out from a substantial rounding bottom and has now formed a falling wedge near its 50-week EMA support.
Additionally, it has bounced precisely off support around the $150 level. With hidden bullish divergence emerging, the technical indicators suggest that a move higher could be imminent.
The stock recently broke out from a substantial rounding bottom and has now formed a falling wedge near its 50-week EMA support.
Additionally, it has bounced precisely off support around the $150 level. With hidden bullish divergence emerging, the technical indicators suggest that a move higher could be imminent.
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