Alphabet Stock Hits Record High After Google Parent Reports Strong Earnings—Monitor These Key Levels

Alphabet (GOOGL) shares jumped to a record high Thursday after the Google parent reported earnings that topped Wall Street estimates, as quarterly revenue surpassed $100 billion for the first time.

The tech giant’s top line received a boost in the third quarter from Google Cloud posting a 34% jump in revenue from a year earlier, as Alphabet customers invest billions expanding their AI infrastructure and data analytics capabilities. Meanwhile, revenue in the company’s legacy advertising business grew 13% in the period, signaling that the digital ad market remains stable amid economic uncertainty and increasing competition. The company also raised its capital expenditure spending forecast for the year to between $91 billion to $93 billion, citing booming AI demand.

Alphabet shares were up nearly 5% at around $288 in recent trading and have now gained more than 50% since the start of 2025, making it the top-performing Magnificent Seven-member stock this year, slightly ahead of AI favorite Nvidia (NVDA). Investors have cheered the company’s accelerating growth in AI and cloud, resilience in its advertising business, and an antitrust win that allowed it to retain its Chrome browser. 

Below, we take a closer look at Alphabet’s weekly chart and apply technical analysis to identify major price levels worth watching out for.

Flag Pattern Breakout

Alphabet shares broke out from a flag pattern earlier this month, indicating a continuation of the stock’s strong uptrend.

It’s worth pointing out that while the relative strength index confirms bullish price momentum, the indicator sits in overbought territory, increasing the likelihood of near-term profit-taking or consolidation.

Let’s use the measuring principle to forecast a potential upside target on Alphabet’s chart if the shares continue to rally and also identify two major support levels worth monitoring during possible downturns.

Measuring Principle Upside Target

Investors can forecast a bullish upside target by applying the measuring principle, a technique that analyzes a stock’s prior moves to project its next potential advance.

When applying the study to Alphabet’s chart, we calculate the distance in points of the strong trend higher that preceded the flag and add that amount to the pattern’s top trendline. In this case, we add $115 to $245, which forecasts a target of $360.

Major Support Levels Worth Monitoring

During downturns, investors should initially monitor the $235 level. Traders who avoid chasing breakouts may wait for retracements to the base of the flag pattern, which also coincides with a wide-ranging day on the chart in early September.

Finally, selling below this level could see Alphabet shares revisit lower support around $205. This area on the chart, currently situated just above the rising 50-week moving average, may attract buying interest near the stock’s prominent January swing high.

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As of the date this article was written, the author does not own any of the above securities.