Alphabet, Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) is set to print its second-quarter earnings after the market close on Tuesday.

Analysts on average expect Alphabet will print EPS of $1.20 on revenues of $65.42 billion.

When Alphabet printed first-quarter earnings on April 25, the stock opened slightly higher but closed the following trading day flat. Alphabet then continued to trade sideways until May 5, when it started to increase sharply, rising 20% between that date and June 7, when the stock topped out at $129.55.

For that quarter, Alphabet printed earnings of $1.17 per share, which beat the analyst estimate of $1.06. The Google parent company reported quarterly revenues of $69.79 billion, beating the $68.9-billion estimate.

Traders and investors are interested in hearing how far along Alphabet is working to further its artificial intelligence research. 

From a technical analysis perspective, Alphabet looks set to choose a direction for the longer term following the print because the stock is trading in a falling channel pattern on the daily chart. Of course, holding a stock or options through earnings is akin to gambling because a stock can fall on a positive print and soar on negative results.

The Alphabet (GOOG) Chart: Alphabet was rising up over 1% Tuesday, attempting to break up from a falling channel pattern on the daily chart. The pattern leans bearish for the short term but can be bullish down the road.

Produced in association with Benzinga