GOOGL tests a 340 target ahead of earnings

We flagged a constructive trend for Alphabet (GOOGL) in this blog on January 9, 2026. The stock has probed to higher highs into early February, reaching an upside count at the 161.8% extension of the November 2022 to February 2025 rally projected from the April 2025 low at 340 ahead of this afternoon's post-market close earnings report.

If GOOGL responds negatively to earnings, the key risk management supports come in at 319-316 (higher low and rising 13-week moving average (WMA)) and 296-291 (mid December higher low and late October high), with the rising 26-WMA at 280-279.

The weekly upside gap from late October sits at 264-261.

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

Tactically speaking, GOOGL remains within a rising trend while above the 332-319 area (chart levels and rising 13-, 26-, and 40-day moving averages (DMAs)) with potential to Fibonacci extension targets at 353-354 and 389-390 on a positive response to earnings.

However, daily trend momentum (MACD) and price momentum (RSI) have weakened into early 2026, with lower highs that have formed negative divergences against the higher highs for GOOGL's stock price. These divergences could limit upside on GOOGL.

Chart 2: Alphabet (GOOGL) (top), MACD (center), and RSI (bottom): Daily chart