Tesla is the biggest mover today with a gain of 5.41% after report that Elon Musk purchased $1 billion of its stock. Not far behind is Google which has risen 3.38% to a new all-time high. Since its last earnings announcement on July 23, the price has moved up close to 31%.
Along the way, shares of Alphabet surged 9.1% on September 3 after a favorable court ruling that allowed the company to retain control of its Chrome browser and Android operating system, while only restricting certain exclusive contracts with device makers and browser developers. The relief from harsher antitrust remedies sparked a sharp gap higher in the stock.
Since then, the rally has continued, with the share price adding another +10.15%. Going back even further, from the April 2025 low at $140.53, the stock has climbed more than $100, or roughly 77%, underscoring the strength of its longer-term uptrend.
From a technical perspective, the September 3 gap was especially significant because it pushed the price above an upward-sloping trendline drawn from the July 2024 high through the February 2025 high. That breakout has since been reinforced by momentum, with the stock closing higher in 7 of the past 9 sessions (and only modest declines on the two down days).
For sellers to gain more control, the key would be forcing the stock back below that broken trendline and keeping it there. The trendline currently comes in around $224 and rising, not far from the September 3 gap-day low at $230.66.
Zooming into the hourly chart, the 100-hour moving average (blue line on the chart below) sits at $225.80, placing it right between the broken topside trendline and the lower edge of the gap area ($224–$230). This creates a critical risk-defining zone for traders:staying above it keeps the bias pointed higher, while a break back below would give sellers new confidence and cause buyers to reconsider their grip on the trend.
Needless to say, the price is overbought, but it is tough to pick a high with the momentum seen in the share price action. Absent a move below the aforementioned area between $224 and $230, the buyers are in firm control.
