From Yahoo Finance: 2025-05-07 22:54:00

Alphabet shares plunged 7% after reports Apple plans to incorporate AI-powered search on Safari. The stock broke below a rising wedge pattern, signaling a downtrend. Key support levels are $141 and $131, resistance at $165 and $182. Alphabet shares have fallen 20% this year, closing near $151 on Wednesday.

Apple’s potential AI search options on Safari raised concerns for Google’s search business. A $20 billion partnership sees Google as Safari’s default search engine. Alphabet shares staged a bearish rising wedge pattern after a death cross last month. The breakdown below the lower trendline suggests a continuation of the downtrend.

Support levels at $141 and $131 may attract buying interest for Alphabet shares. Resistance at $165 and $182 could see profit-taking opportunities. The stock’s decline is attributed to fears of an economic slowdown affecting ad revenue. Technical analysis signals a bearish trend continuation for Alphabet shares.

Investors should monitor Alphabet’s major support levels at $141 and $131. Resistance levels at $165 and $182 could offer profit-taking opportunities. The partnership between Google and Apple may face challenges with AI-powered search options on Safari. Alphabet shares have slumped 20% this year due to economic concerns impacting ad revenue.



Read more at Yahoo Finance: Watch These Alphabet Levels as Stock Tumbles on Concerns About Google Search Business