Take a look at these alphabet levels, while the shares storm for concerns about the Google search business

Alphabet's shares (Googl) fell on Wednesday after an Apple (AAPL) medication allegedly announced that the iPhone manufacturer wanted to add a Safari browser to add AI-powered search options, and added that they could finally replace standard search engines such as Google.

The two tech giants have a long -standing partnership in which Google Pay Apple from Alphabet from Alphabet has an estimated 20 billion US dollar a year to make his search engine a failure option for Safari in exchange for the iPhone manufacturer, which receives a cut of Google advertising income via the browser. The news increased the concerns that AI breaks Google in the Bread-and-butter online search business.

The alphabet shares have dropped by 20% since the beginning of the year until the end of Wednesday, sometimes about the concerns that an economic abbreviation could achieve sales if the advertising expenses are introduced. The stock fell by more than 7% and closed $ 151 on Wednesday.

In the following we take a closer look at Alphabet's diagram and apply technical analyzes to determine important price levels that are worth observing.

Increasing stretch outbreak

After a threatening Death Cross -outfacing on the table last month, Alphabet shares organized a rally of the countertransference to form a rising wedge, a bearish pattern that indicates a continuation of the stock.

In fact, this step seems to have started in the trading session on Wednesday, whereby the price is divided into the above -average daily volume below the lower trend line of the pattern. In addition, the drop fell together with the RSI relative strength (RSI), which fell under the 50 threshold value, and the signal acceleration of the dynamics of sales.

Let us identify two important support levels in alphabets diagrams in which the shares can attract support and also find important overhead areas that are worth observing during future recovery efforts.

To monitor main support levels

The first support level that can be seen is 141 US dollars. This area could arouse the purchase interest near a horizontal line that was connected to the table last month in the fourth quarter of 2023 last month.

The sale under this important technical level could reduce the retreat of shares to the support of 131 US dollars. Investors can occur in this region near the depth of a withdrawal for the 200-day average observed in narrow observed in March last year.

Important overhead areas that are worth observed to be observed

During the recovery efforts in the stock, it is worth keeping an eye on the range of $ 165. The stocks can come across overhead resistance at this level near the peak of the rising wedge pattern, which also corresponds closely with the trough last November.

Finally, a move over this area could be moved to $ 182. Investors who have accumulated alphabetics on lower levels can search in this region near a trend line in this region that connects a number of corresponding commercial activities on the diagram with the deficit until the end of June last year.

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Until the date on which this article was written, the author has none of the above securities.