Mega-cap Alphabet (GOOGL) is one of the top performers in the S & P 500 Monday, hitting a new all-time high as the rest of the market struggles. This strength is meaningful on the chart because it lifts the stock above long-term resistance near $151, which goes back to 2021. Assuming the breakout is made decisive by the end of the week, we would see it as a bullish long-term development for GOOGL. The breakout acts as a positive catalyst and targets $184 based on a measured move. The rally marks an extension of the cyclical uptrend and gives the chart the shape of a bullish ‘cup-and-handle’ formation. Cup-and-handle breakouts tend to see upside follow-through, much like we saw from Microsoft (MSFT) , which completed a similar pattern last November. Intermediate-term momentum is renewed behind GOOGL per a new bullish crossover in the weekly MACD. This should allow overbought conditions to be absorbed well. GOOGL’s cyclical uptrend is supported by long-term trend-following gauges such as the weekly cloud model (shaded area on the chart). Support for the stock can be gauged by the rising 200-day (and, 40-week) moving average, which captured the most recent corrective low. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: (None) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer. 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