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Google stock price fell more than -5.90% Tuesday closing at $104.32

StockInvest.us, 1 week ago


The Google stock price fell by -5.90% on the last day (Tuesday, 13th Sep 2022) from $110.86 to $104.32. During the last trading day the stock fluctuated 4.04% from a day low at $104.09 to a day high of $108.30. The price has fallen in 6 of the last 10 days and is down by -4.66% for this period. Volume has increased on the last day by 15 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 38 million shares were bought and sold for approximately $3.97 billion.

Rosenblatt is very positive about GOOGL and gave it a "$154.00 - $156.00" rating on Sep 07, 2022. The price target was changed from 154 to 156.Over the last 90 days, this security got 4 buy, 18 sell, and 0 hold ratings.

The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $105.37 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.


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 $108.33 and $114.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, August 15, 2022, and so far it has fallen -14.55%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 $4.21 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 2.51%.

Google holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Check full Google forecast and analysis here.