Stock splits (and reverse splits) are part of the investing scene. We have seen a few high-profile splits in the last two years and they have attracted interest from many traders. Some market observers have seen a tendency for stocks to rally after a split is announced even though it only cuts up the pie in more pieces. Alphabet ( GOOGL) is a recent 20-for-1 stock split and it is worthwhile checking out the new chart levels we need to zero in on going forward 
In this daily bar chart of GOOGL, below, we can see that prices declined to a late May low and have made higher lows since that nadir. Prices briefly made a higher high in early July but then retreated in recent days. The 50-day moving average line is now bottoming but prices have yet to stay above it for long. The slope of the 200-day line is negative and it intersects up around $131. The On-Balance-Volume (OBV) line has moved sideways after its low in late May. A sideways move in the OBV line suggests a balance between buyers and sellers and that is a small improvement over a decline. The Moving Average Convergence Divergence (MACD) oscillator is back to the zero line and could cross above it or turn lower -- it all depends on the price action.
In this weekly Japanese candlestick chart of GOOGL, below, we see a mixed picture. Prices are in a downward trend as they trade below the declining 40-week moving average line. The recent candles show us a mix of bullish and bearish entrees. The weekly OBV line shows weakness from February but no recent new low. The MACD oscillator is trying to cross to the upside for a cover shorts buy signal.
In this daily Point and Figure chart of GOOGL, below, we can see the software is suggesting an upside price target in the $151 area and near the highs.
In this second Point and Figure chart of GOOGL, below, we used weekly price data and here a different picture emerges. Here the software suggests a decline to $85 is possible.
Bottom line strategy: There has been some improvement in the technical condition of GOOGL in recent weeks. Strength in the broad market averages could go a long way in helping GOOGL rally further. Aggressive traders could go long GOOGL on strength above $120, looking for gains toward $150 or so. Risk to $108.
(GOOGL is a holding of Action Alerts PLUS. Want to be alerted before the portfolio buys or sells these stocks? Learn more now.)
