Alphabet Inc. $GOOGL pulled back sharply in July, but started to consolidate in a range in August. Now in early September, it looks like price has bounced off this consolidation support again, but this time with a bullish breakout.GOOGL Daily Chart(click to enlarge)Breakout:- As we can see on the daily chart, price has been held under $1200-$1208 in August, while holding above the area around $1150. - It is now pushing above the resistance. - Note that price is still above the 200-day simple moving average (SMA) and that the RSI is still above 40.- These are signs that bulls are still in charge.- The fact that GOOGL made a strong stand around $1150 makes this a key support. If price breaks this support, we can expect a strong bearish correction.- But for now, I would not be surprised if price pushes back to the 2019 high around $1290 or even push to $1300.