Google stock price up more than 5.59% on Wednesday

The Google stock price gained 5.59% on the last trading day (Wednesday, 26th Jul 2023), rising from $122.79 to $129.66. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.06% from a day low at $128.72 to a day high of $131.37. The price has risen in 6 of the last 10 days and is up by 8.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $5.96 billion.

Cowen & Co. is very positive about GOOG. The price target was set to 125 (Jan 11, 2023).

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 9.75% during the next 3 months and, with a 90% probability hold a price between $130.85 and $147.70 at the end of this 3-month period.

Mostly positive signals in the chart today. The Google stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $123.00 and $122.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, July 10, 2023, and so far it has risen 10.94%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Google finds support from accumulated volume at $124.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.65 (2.06%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.

Google holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.