Alphabet - down more 2.5% on the day. Sign of warning or buy opportunity?

Alphabet is down more than 2.5% on the day, currently trading at around $142.37 a share. We can see that on the daily chart, it has now broken through the supportive trendline (green), or respectively, line of best fit. It is now trying to find some support around $141.73, which is October’s high. A move below this level would then turn the focus to the support of $136.55, which is the upper white trendline. A break and close below this trendline would increase the likelihood of a potential retracement even lower towards $129.71 (lower white trendline). It would be unreliable to point out any resistance levels at this moment in time as the near-term bias is shifting towards bearish. Looking at the technical indicators, the MACD continues in the negative direction with the RSI falling lower, reading 44. Some will argue that this is an early warning sign for stocks for the near term, others will see it as a new buy opportunity.