Pop and Flop in GOOGL?

Google recently staged a sharp rebound, filling the gap perfectly after a major sell-off driven by tariff-related headlines. While I had personally expected a deeper move into the $137.36–$135.41 range, price found strong buying interest earlier than anticipated.

The area we bounced from is significant—it's essentially the origin of the move that led to Google’s all-time high in 2024. However, despite the bounce, GOOGL has lost support across all timeframes, which shifts my focus toward potential short opportunities.

I’m now watching for a reaction around the support-turned-resistance zone near $164. There’s an untested monthly level at $161.72, which could trigger a reaction, but the area I’m really eyeing is the weekly resistance zone from $164 to $165.87. I believe this range could act as a strong reversal zone and spark a deeper pullback.

If that rejection plays out, here are the levels I’m watching for downside targets:
- Target 1: $157.04 (daily support zone)
- Target 2: $146.75 (leg end and major weekly swing low from September 2024)
- Target 3: $141.55 (previous leg low)
- Final Target: New lows below $140.00

This short setup was far more appealing before the recent bounce off the $140 zone, so I will remain cautious. However, if price starts reacting from this resistance zone and breaks back below the monthly at $161.72—or even more convincingly, the local daily support at $160.67—that would trigger confirmation for continuation to the downside.

Invalidation levels:
- A weekly close above $165.03
- A daily close above $170.60

Either of those would invalidate the short thesis.