Alphabet (GOOG) Price Forecast: Recovery Tests Key Bullish Breakout Zone

100-day moving average continues to act as key support. Resistance from $369.89 to $373.60 remains the critical hurdle. A move above $373.60 would confirm a bullish trend reversal. Inverse head and shoulders pattern is beginning to take shape. Holding above $343.63 keeps the bullish pattern intact.

Shares of Alphabet Inc. ( GOOG ) remain in a bullish position and continue to recover after recently completing their first pullback following the record high of $404.47 reached in May. A higher swing low of $133.69 was established two weeks ago after the stock completed a 50% retracement of the prior advance at $338 while also successfully testing the 100-day moving average, currently near $340.04 and rising. That was the first successful test of support at the 100-day average since it was reclaimed in early April, reinforcing the longer-term bullish structure despite the recent correction.

GOOG daily chart shows bullish recovery attempt following a corrective low. Source: TradingView Strength followed the low, resulting in the reclaiming of the prior trend high of $350.15 from February and a breakout above the downtrend line. Resistance was subsequently seen at $370.89, where a slightly lower swing high formed, confirming resistance near the 50-day moving average.

The 50-day moving average continues to represent downward pressure, while the 100-day moving average reflects underlying buying pressure. A key confluence of resistance is no...