On 31 March, we noted that bearish sentiment could push Alphabet’s (GOOGL) share price towards the psychological level of $150. As the current price chart suggests, GOOGL is now trading close to that very level.

Moreover, the price is approximately equidistant from the recent highs and lows (marked A and B), which may be interpreted as a sign of balanced supply and demand — and a wait-and-see stance from market participants ahead of Alphabet’s Q1 earnings release (scheduled for tomorrow, 24 April).

Awaiting the GOOGL Earnings Report

With the Nasdaq 100 index (US Tech 100 mini on FXOpen) having fallen by around 13.5% since the beginning of the year, investors are approaching tech earnings with caution. According to Barron’s, three key themes are expected to dominate the narrative:

→ management forecasts amid continued uncertainty around the White House’s tariff policy;
→ plans for major capital investment in AI-related infrastructure;
→ signs of softening consumer demand.

Given the current climate of uncertainty, Alphabet’s earnings report could prove particularly influential — serving as a benchmark for shaping market expectations ahead of other major tech company reports.

Technical Analysis of Alphabet (GOOGL)

The $150 level has served as key support throughout 2024, and over the coming days it may act as a springboard for a new price movement, potentially driven by the earnings results.

From a bearish perspective, the market remains in a downward trend (indicated in red) following a breakout below the lower boundary of a previously active rising channel (marked in purple) that had held since last autumn. However, if Alphabet’s management maintains an upbeat outlook for 2025, this could give the bulls the confidence to challenge the upper limit of the red channel.

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