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

Author: Bruce Powers

Updated: July 10, 2026

Key Points

• The 100-day moving average is acting as a significant support level.
• Resistance is identified between $369.89 and $373.60, which is crucial for the stock's bullish outlook.
• A breakout above $373.60 would confirm a bullish trend reversal.
• An inverse head and shoulders pattern is forming, indicating potential bullish momentum.
• Maintaining a price above $343.63 is essential to keep the bullish pattern intact.

Market Overview

Alphabet Inc. (GOOG) shares are currently in a recovery phase after a pullback from a record high of $404.47 reached in May. The stock established a higher swing low at $133.69 two weeks ago, completing a 50% retracement at $338 and successfully testing the 100-day moving average, which is currently around $340.04 and rising. This test of support reinforces the long-term bullish structure despite the recent correction.

Resistance Analysis

The 50-day moving average is exerting downward pressure, while the 100-day moving average indicates underlying buying strength. A critical resistance zone exists between $369.89 and $373.60, which includes the 50-day moving average and previous swing highs. A rise above $373.60 would signal a bullish trend reversal, suggesting that the recent correction may have concluded and the bullish trend is resuming.

Inverse Head and Shoulders Pattern

There is potential for a small bullish inverse head and shoulders pattern to develop. The recent pullback from a high of $370.89 completed a 61.8% Fibonacci retracement, with a low of $348.66 reached. If the stock maintains above this low and rises above $356.73, it would trigger a bullish reversal from the confluence of trendline and Fibonacci support, establishing a new higher swing low. This would form the second shoulder of the inverse head and shoulders pattern, with a breakout above the neckline at $370.89 confirming the bullish reversal.

Conclusion

While a decline below $348.66 could lead to a deeper pullback, the inverse head and shoulders pattern would remain valid as long as a higher swing low is established above the left shoulder low at $343.63. The next significant move for GOOG will depend on whether the stock confirms the bullish pattern or extends the correction, making the developing support zone critical to monitor.

About the Author

Bruce Powers is a Senior Analyst with over 20 years of experience in financial markets. He holds an MBA and is a CMT® charter holder. Bruce has served as head of trading strategy at hedge funds and as a corporate advisor for trading firms, providing actionable insights through technical and fundamental analyses.