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Google stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.

StockInvest.us, 2 months ago

Google

The Google stock price gained 1.28% on the last trading day (Friday, 15th Jul 2022), rising from $2207.35 to $2235.55. During the day the stock fluctuated 2.02% from a day low at $2218.00 to a day high of $2262.81. The price has been going up and down for this period, and there has been a 2.58% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 483 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $5.21 billion.

The last rating was given by Barclays on Jul 05, 2022. The price target was changed from 3200 to 3000.Over the last 90 days, this security got 2 buy, 25 sell, and 0 hold ratings.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -7.10% during the next 3 months and, with a 90% probability hold a price between $1871.95 and $2203.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Google

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Google stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2289.52 and $2250.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, July 08, 2022, and so far it has fallen -6.35%. Further fall is indicated until a new bottom pivot has been found.

Google finds support from accumulated volume at $2142.87 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $44.81 between high and low, or 2.02%. For the last week, the stock has had a daily average volatility of 2.48%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full Google forecast and analysis here.