Alphabet Inc (NASDAQ:GOOG) shares are rising on Wednesday after the company was selected to join the Dow Jones Industrial Average.
- Alphabet stock is trading near recent highs. Where is GOOG stock headed?
Alphabet Set To Enter The Dow
S&P Dow Jones Indices announced that Alphabet will take Verizon Communications Inc’s (NYSE:VZ) place in the Dow Jones Industrial Average, effective before the market opens on June 29. The index provider said Alphabet’s inclusion will expand the Dow’s exposure to fast growing areas of the United States economy such as advertising, cloud services, artificial intelligence, hardware, autonomous systems, health technology and digital media distribution.
S&P Dow Jones Indices added that Alphabet’s larger market value and higher share price, combined with the breadth of its business lines, make it a more representative choice for the Dow.
GOOG Technical Setup: Key Levels To Watch
Alphabet is sitting in a mixed technical posture. The stock trades about 4% under the 20-day simple moving average at $363.61 and roughly 5% under the 50-day simple moving average at $366.48. At the same time, it remains about 4% above the 100-day simple moving average at $336.97 and nearly 12% above the 200-day simple moving average at $312.35. That combination often signals a medium term cooling phase inside a still constructive longer term trend, which fits the backdrop after a 108.10% gain over the past year.
Momentum currently leans cautious. MACD sits below its signal line and the histogram is negative, which indicates that upward pressure has eased compared with the prior advance. MACD essentially compares faster and slower trend momentum, and when it falls below the signal line it often means buyers need renewed strength to regain control.
The moving average alignment supports the idea of a pause rather than a breakdown. The 20-day average is below the 50-day average, which reflects short term softness, but the 50-day average remains above the 200-day average. That keeps the longer-term golden cross from July 2025 intact and gives traders a reason to focus on support zones rather than chasing strength into overhead resistance.
- Key Resistance: $373.50 — This level sits near the short-term moving average cluster and has acted as a ceiling where rebounds have struggled to push through.
- Key Support: $343.50 — This area aligns closely with the 100 day trend region and marks a spot where buyers recently stepped in to defend pullbacks.
GOOG Shares Are Rising
GOOG Price Action: Alphabet shares were up 0.59% at $348.08 at the time of publication on Wednesday, according to Benzinga Pro.
Image: Shutterstock
