Alphabet (GOOGL): Targets at 292-297

Question: I was looking at trimming my position for GOOG and was trying to see what prices would be a good time to do that. Can you please share your thoughts on GOOG please?

Alphabet (GOOGL): Post-earnings gap up with upside counts at 292-297

GOOGL reported earnings yesterday (10/29) and is indicated higher pre-open. The stock has already exceeded upside projections at 264 (100% extension level) and 273 (target for the breakout above 207) and shows additional upside potential to 292-297. These levels correspond to the measured move from the July 2024–September 2025 broadening formation (292) and the target from the mid-September to mid-October bullish flag breakout (297).

These upside projections suggest that the 290s could be a tactical area to trim or take partial profits in GOOGL, especially if momentum begins to stall near those levels. However, if the stock continues to show strong upside momentum, even after a pause that holds upside gaps (see below), the 161.8% extension level near 340 represents a longer-term upside target.

On the downside, a gap higher today would create near-term support down to yesterday’s high near 275, with stronger support in the 264–260 area, corresponding to Monday’s daily and weekly upside gaps at 264.28–261.68. Holding these supports would maintain the bullish bias for GOOGL, while a move below them would suggest upside exhaustion instead.

Chart 1: Alphabet (GOOGL) (top) and relative to the S&P 500 (bottom): Weekly

Chart 2: Alphabet (GOOGL): Daily