Google stock price down 2.55% on ThursdayStockInvest.us, 1 month ago
The Google stock price fell by -2.55% on the last day (Thursday, 26th Oct 2023) from $126.67 to $123.44. During the last trading day the stock fluctuated 2.56% from a day low at $122.32 to a day high of $125.45. The price has fallen in 6 of the last 10 days and is down by -12.01% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -24 million shares and in total, 33 million shares were bought and sold for approximately $4.12 billion.
On Oct 25, 2023, it was reported that Needham gave GOOG a "Buy" grade with a "hold" action.
Given the current short-term trend, the stock is expected to rise 5.41% during the next 3 months and, with a 90% probability hold a price between $130.12 and $150.69 at the end of this 3-month period.
There are few to no technical positive signals at the moment. The Google stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $134.73 and $136.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, October 11, 2023, and so far it has fallen -12.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.13 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 2.37%.
The Google stock holds several negative signals and despite the positive trend, we believe Google will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full Google forecast and analysis here.