Is Google stock still a buy after falling -6.94% on Wednesday?

The Google stock price fell by -6.94% on the last day (Wednesday, 5th Feb 2025) from $207.71 to $193.30. During the last trading day the stock fluctuated 2.44% from a day low at $189.91 to a day high of $194.55. The price has risen in 6 of the last 10 days but is still down by -3.36% for this period. Volume has increased on the last day by 20 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, 43 million shares were bought and sold for approximately $8.40 billion.

On Feb 05, 2025, it was reported that Benchmark gave GOOG a "Negative" grade with a "hold" action.

The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $190.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 17.15% during the next 3 months and, with a 90% probability hold a price between $223.71 and $243.93 at the end of this 3-month period.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $200.88 and $196.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 04, 2025, and so far it has fallen -6.94%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Google finds support from accumulated volume at $192.96 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 $4.64 (2.44%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.