Alphabet Inc. (GOOGL) was reviewed just the other day, where I wrote that "My recommendation: Stay long, with a $1,100 investing stop and a $1,170 trading or short-term stop. Your price targets from the charts above should be $1,300 -- and then $1,439."
With prices gapping higher this Tuesday morning in reaction to the company's "blow out earnings report," which Jim Cramer discusses here, another look at the Point and Figure chart is in order.
Looking at this updated Point and Figure chart of Action Alerts PLUS holding GOOGL, below, we can see a new, higher price target of $1,587.38 being projected. The round number of $1,500 could provide some resistance or profit-taking along the way.