Alphabet C Slumps 3.6% to $167.72 Amid Third Straight Loss Streak

Alphabet C (GOOG) has experienced a significant downturn, declining 3.60% to $167.72 in the latest session. This marks the third consecutive daily loss, accumulating a 5.74% drop over this period. The price action reflects persistent selling pressure, closing near the session low of $166.27 after failing to sustain momentum above $175.365.
Candlestick Theory
Recent sessions show deteriorating sentiment, culminating in a long-bodied bearish candle on June 20th that fully engulfed the prior two days’ range. This pattern suggests capitulation, with $166.27 establishing immediate support. Resistance is visible near $172.84 (June 18 low) and $175.37 (June 20 high). A March low of $148.40 and the June high of $182.45 frame broader boundaries.
Moving Average Theory
The 50-day SMA (approximately $169.40) crossed below the 100-day SMA (~$171.50) in early June, signaling deteriorating medium-term momentum. The price now trades below all key SMAs (50/100/200-day), with the 200-day SMA near $166.00 offering potential support. The alignment of shorter averages below longer ones confirms a bearish trend structure, though proximity to the 200-day SMA may trigger technical bounces.
MACD & KDJ Indicators
The MACD histogram has resided in negative territory since early June, with the signal line maintaining a bearish crossover. This aligns with KDJ readings (K-line: 18, D-line: 24, J-line: 6) indicating deeply oversold conditions. While both oscillators show no immediate divergence, the extreme KDJ values suggest latent reversal potential should downside momentum abate.
Bollinger Bands
Volatility expansion occurred as prices breached the lower band ($169.20) during the sell-off. The 20-day band width has increased by 35% since mid-June, confirming elevated volatility. Prices now trade near the lower band extremity, which – when coupled with oversold oscillators – hints at exhausted selling pressure, though sustained closes below $166.00 would indicate continued weakness.
Volume-Price Relationship
Distribution days accompanied the decline, with June 20 volume surging 28% above average. This confirms bearish conviction during breakdowns. However, the preceding rally to June highs saw declining volume, indicating weak accumulation. For any recovery to gain credibility, bullish reversals must coincide with volume expansion exceeding 20-day averages.
Relative Strength Index (RSI)
The 14-day RSI (29.3) entered oversold territory, approaching levels last seen during March’s pullback. Historically, readings below 30 have preceded technical rebounds, though June’s persistent downside demonstrates RSI can remain depressed during strong trends. Traders should monitor for bullish divergence or reclaiming 30 as early reversal signals.
Fibonacci Retracement
Using the swing high of $182.45 (June 10) and low of $166.27 (June 20), key retracement levels cluster at $170.38 (23.6%), $172.86 (38.2%), and $174.36 (50%). These align with prior support/resistance zones and moving averages, creating confluence barriers. A 61.8% retracement at $175.85 would require reclaiming the 100-day SMA, currently a formidable ceiling.
Confluence and Divergence Observations
The $166.00–$166.50 zone presents critical confluence, housing the 200-day SMA, psychological support, and recent price lows. Conversely, resistance coalesces at $170.50 (23.6% Fibonacci + 50-day SMA) and $173.00 (38.2% Fibonacci + June 18 low). While MACD/RSI agree on oversold conditions, the absence of bullish divergences warrants caution. Volume patterns diverge negatively from price during recovery attempts, undermining sustainability. For reversal validation, Alphabet C must reclaim $170.50 with expanding volume while sustaining above the 200-day SMA.