Google $GOOG has continued to rebound, with support near $290 holding for now. Can it break through $300 next, and even challenge the gap near $320 above?
$GOOGL closed up 1.62% at $295.35, rising for a second consecutive trading day. Trading volume was about 22.08 million shares, above the 50-day average.
Even as the broader U.S. stock market weakened, Google remained relatively strong, with short-term buying picking up somewhat.
I think this rebound is supported by fundamentals. Google’s Q3 revenue grew 25% year over year, Google Cloud grew 103%, and Gemini surpassed 1 billion monthly active users.
The AI business is not only driving growth in cloud services, but also giving Google the opportunity to sell its in-house TPU chips to external customers. Nearly 100 customers are already using TPUs, and some chip revenue is not expected to show up until 2027.
Technically, $290 is the first line of defense, with $284.44 as the next support level. Resistance is concentrated around $300 and $303.11. Only after breaking through those levels could the stock have a chance to move further toward the gap near $320.
I think the short-term rebound still has room to continue, but it is too early to confirm a trend reversal. The $300–$303 range is the most important area to watch next. If the stock holds above it on increased volume, the rebound could broaden. If it retreats after rising and falls below $290, it may retest the area around $284.
Google’s AI growth story is still playing out. Whether the stock can regain strength will ultimately depend on whether that growth can continue to translate into profits.
DYOR
$GOOGL closed up 1.62% at $295.35, rising for a second consecutive trading day. Trading volume was about 22.08 million shares, above the 50-day average.
Even as the broader U.S. stock market weakened, Google remained relatively strong, with short-term buying picking up somewhat.
I think this rebound is supported by fundamentals. Google’s Q3 revenue grew 25% year over year, Google Cloud grew 103%, and Gemini surpassed 1 billion monthly active users.
The AI business is not only driving growth in cloud services, but also giving Google the opportunity to sell its in-house TPU chips to external customers. Nearly 100 customers are already using TPUs, and some chip revenue is not expected to show up until 2027.
Technically, $290 is the first line of defense, with $284.44 as the next support level. Resistance is concentrated around $300 and $303.11. Only after breaking through those levels could the stock have a chance to move further toward the gap near $320.
I think the short-term rebound still has room to continue, but it is too early to confirm a trend reversal. The $300–$303 range is the most important area to watch next. If the stock holds above it on increased volume, the rebound could broaden. If it retreats after rising and falls below $290, it may retest the area around $284.
Google’s AI growth story is still playing out. Whether the stock can regain strength will ultimately depend on whether that growth can continue to translate into profits.
DYOR
