GOOG is showing a chart that many bullish traders like to monitor after a hard selloff: a strong downside impulse followed by stabilization instead of continued collapse. Price opened around 346.36, traded as high as 347.92, sold off into the 337.63 low, and then started basing around the 338 to 342 region. That shift from active selling to sideways compression is important because it suggests the market may be moving from distribution into absorption.

The sharp break lower likely forced out weak holders, but what stands out is that follow-through selling became weaker after the initial drop. Rather than breaking to fresh lows again and again, the chart began to flatten out. In technical terms, that often signals exhaustion in the bearish move. Once a market stops reacting aggressively to bad momentum, it becomes easier for buyers to gradually regain control. The base around 338 to 342 is therefore a very important area. If that zone continues to hold, it could become the platform for a recovery leg. From a bullish point of view, the setup improves significantly if GOOG reclaims 342 with conviction and then pushes back above the session open around 346.36. A recovery through that level would suggest that the selloff was more of a short-term shakeout than a lasting structural weakness. After that, 347.92 becomes the next obvious upside checkpoint. What makes this chart interesting is that the market has already done the hard part of resetting momentum. If buyers continue defending the low and gradually step price back above the mid-range, GOOG could transition from a weak tape into a strong rebound candidate.

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