NEW YORK – Alphabet Inc. Class C (GOOG) shares finished the trading week on a high note, posting a significant gain driven by a powerful surge in the final hour of trading. The tech giant’s stock closed at
3.84 (2.20%) for the day, signaling strong positive momentum that investors will be watching closely at the start of next week.
The trading day on Thursday, June 27th, was largely unremarkable for its first several hours. The stock opened at $174.63 and fluctuated in a relatively tight range, mostly trading between $173 and $175. However, the session’s dynamic shifted dramatically just before the 4:00 PM closing bell.
A massive wave of buying pressure hit the market, propelling the stock from the $174 level to its high for the day of $178.84 in a near-vertical move. This late-day rally was responsible for the entirety of the session’s impressive gains.
Analysis for Monday’s Open:
The outlook for Monday appears optimistic based on this price action. Here’s why:
-
Strong Closing Momentum: A stock that closes at or near its high for the day, especially on a powerful rally, often indicates that bullish sentiment is strong and has not yet been exhausted. This momentum frequently carries over into the next trading session.
-
After-Hours Stability: Following the strong close, after-hours trading showed remarkable stability. The stock saw only a minuscule dip to $178.22. The fact that the price did not significantly retreat after the massive run-up suggests that the new, higher price level is being accepted by the market and is not seen as a temporary fluke.
-
Psychological Breakout: The stock spent most of the day below the $175 mark before decisively breaking through it and establishing a new support base near $178. This decisive move could attract further buying interest on Monday from traders who see it as a bullish breakout.
:
While market conditions can change rapidly, the technical picture presented in Thursday’s trading session is decidedly positive. The powerful close combined with post-market stability suggests that Alphabet’s stock is more likely to see upward pressure or attempt to build on its gains when the market opens on Monday. Investors will be watching to see if the stock can hold these new levels and continue its upward trajectory.
