Alphabet dips on profit-taking - Analysis - 27-04-2017

Alphabet's stock (GOOG) fell in the intraday levels, registering a loss of 0.07% in the last session, or 0.57 points, as traders took profits of past short-term movements, while the stock gathers momentum by venting off the overbought saturation apparent in relative power indicators, as it settles above the support of 855.60, amid the dominance of the main upward short-term trend along the trend line, with ongoing positive pressure from the SMA for the last 50 days period. 

Therefore we expect the stock to return higher in the coming trading, as long as the support of 855.60 holds on, targeting the resistance of 884.59.