Google (Alphabet) stock price has been in an ascending tendency since March 2020, creating a multi-year high of 2,339.72 on Monday.
The positive slope in the RSI, which runs comfortably above its 70 overbought mark, is painting a rosy picture for the short-term. However, with the MACD oscillator flattening near its trigger line in the positive territory, it is reasonable to believe that the rally may appear short-lived.
The 2,315 number is the nearest resistance that could reject any attempt higher. If not, and the price extends positive momentum, the next psychological levels such as 2,400, 2,500 and 2,600 could come in focus.
On the flip side, a downside reversal below 2,315 could bring the 2,231 level, which overlaps with the 20-day simple moving average (SMA) back into view. Should it fail to hold, the 2,151 support around the 40-day SMA would be the next target, while a steeper decline could also reach the 1,999 zone, where any violation would raise fears over a down-trending market.
In the long-term window, the sentiment is positive following the move above the short-term SMAs and the uptrend line.
