Alphabet Stock Finds Support at Key Technical Level

Alphabet Inc. (GOOG) is showing compelling technical support following a pullback to its pre-earnings report lows. The stock is currently consolidating around its year-to-date anchored volume-weighted average price (AVWAP), an area closely aligned with its six-month moving average. Technical analysts highlight that after stalling near the positive 10% year-to-date mark, the equity is poised to carve out a potential right-shoulder low within a developing inverted head-and-shoulders chart pattern. From an options perspective, significant put support is clustering near the 335 to 340 strike levels across both Class A and Class C share classes. Furthermore, options pricing appears relatively inexpensive for prospective buyers, as reflected by the Schaeffer's Volatility Index (SVI) positioned in the 15th percentile of its annual range. Alphabet also holds a Schaeffer's Volatility Scorecard (SVS) reading of 90 out of 100, showing that the equity has consistently delivered larger price swings than option markets have priced in. Analysts recommend leveraging October call options with a leverage ratio of 10.5 to target upside momentum.