$GOOGL an AI Leader?

GOOGL 0.00%↑ yesterday at it’s developer conference announced some updates re it’s AI strategy. Personally, I was impressed but the stock traded muted initially. Has picked up today.

Let’s take a quick look at the charts weekly first:

Can see there has been plenty of distribution candles in recent weeks although stock has rebounded a little from the recent low in the 140’s. Now is trying to regain the 40wk SMA. A hold and S/R flip could mean a move to 200. If rejected think has a date to mid 140’s again.

Daily chart:

Again struggling to surmount the 200SMA and need to see a S/R flip. 20SMA has flipped above the 50SMA but 50SMA is still living below the 200SMA. A very recent positive is however that it showed relative strength today whilst the broader markets sold off.

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