Alphabet (GOOGL) is the second of the "Magnificent 7" tech giants to release earnings this season, following Tesla’s impressive surge last week. Currently, Alphabet shares are trading around $167.56 in pre-market, with key resistance and support levels shaping up as earnings draw near.

Alphabet Stock Price: Key Resistance Levels and Sideways Channel

The technical chart reveals that Alphabet’s price has been moving sideways within a defined channel since October 1. Resistance around $168.59 has proven challenging to break, as seen in yesterday’s session when Alphabet retested this level but failed to surpass it. The daily chart also shows the 100-day moving average (100MA) aligning with the upper trendline of this channel, further strengthening this resistance zone.

A decisive breakout above this area, particularly on positive earnings results, could spark a rally in Alphabet’s stock price in the coming weeks. However, another failure to break higher may lead some traders to offload positions, especially as caution builds ahead of the upcoming U.S. election.

Support Levels and Moving Averages

On the downside, the support range of $159–$160 is emerging as a near-term support base for Alphabet’s stock, with additional backing from the 50-day and 200-day moving averages. If the stock dips below this support, it could prompt some panic selling, potentially pushing the price lower towards the $148–$150 range.

Technical Indicators Signal Bullish Momentum for Alphabet Stock

Momentum indicators suggest bullish sentiment for Alphabet. The MACD (Moving Average Convergence Divergence) is turning bullish, while the RSI (Relative Strength Index) is also in bullish territory, reading 60. This suggests increased buying interest in recent weeks, helping Alphabet stock regain stability after a sharp decline during the July–August period.

Final Insights on Alphabet’s Earnings and Market Outlook

Alphabet’s earnings report today will be a key factor in the stock’s short-term trajectory, with crucial resistance and support levels at play. If the stock can break above $168.59, it may continue to rise, while a pullback could see it test support in the $159–$160 range. Investors and traders alike are likely to watch Alphabet’s earnings closely, using these levels to gauge future price movements in the tech sector as the U.S. election approaches.