Alphabet (GOOGL) hits new all-time high, outperforms S&P 500

CNBC April 1, 2024, 06:00 PM UTC

Summary: Alphabet (GOOGL) hit a new all-time high, outperforming the S&P 500. The stock broke long-term resistance near $151, dating back to 2021, with a target of $184. The rally forms a bullish 'cup-and-handle' pattern, supported by renewed momentum and long-term trend indicators. GOOGL's cyclical uptrend is backed by the rising 200-day moving average. This breakout is seen as a bullish long-term development.

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