Alphabet returns higher - Analysis - 23-10-2017

Alphabet's stock (GOOG) returned higher in the intraday levels, scoring a profit of 0.38% in the last session, or 3.75 points, as the stock continue its attempts to pierce the ceiling of a positive pattern that formed recently, the Ascending Triangle pattern, while also trying to vent off overbought saturation in the RSI, leading to some modest gains, on the back of positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, as long as it settles above the resistance of 986.20, targeting the next one at 1045.93.