Alphabet (GOOGL) has been in a corrective phase since May, but the stock is showing signs of stabilization amid oversold conditions. Key support sits at the 200-day moving average near $337, while initial resistance is expected around $376 and further resistance near $402. Although long-term momentum has deteriorated, the stock remains well above the rising monthly cloud model that defines the secular uptrend. Short-term indicators, including daily stochastics and the daily MACD, are showing favorable buy signals for a rebound, with potential outperformance versus the SPX index.
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