Alphabet Stock Pauses at $250, Analysts See 38% Upside
Alphabet stock, after a sharp rise from April to September, is currently consolidating around the $250 mark. Analysts remain bullish, with the highest price target at $340, suggesting a potential 38% upside. The next Fibonacci extension level is $315, with a potential target of $340.
The stock price recently corrected to $239.20, rebounded to $252.20, and then fell again on Tuesday. Despite this, key support levels remain at $240 and the 50-day moving average (SMA50) around $225. A sustained break above $250 is still pending, with the current phase being a pause in the uptrend. If the stock breaks out of its current consolidation zone, it could initially rise to $300. However, the Relative Strength Index (RSI) climbed to over 88, indicating overbought territory and potential correction.
Alphabet stock's next Fibonacci extension level is $315, with a potential target of $340. Most analysts recommend buying, with the highest price target at $340. Key support levels are at $240 and the SMA50 around $225. A sustained break above $250 is still pending, and the RSI indicates potential correction after reaching overbought territory.
