Bullish mood lifts Google to session high of $126

Yesterday at a glance: after ending Thursday's session at $124.35, Google went up to $126 yesterday only to fall back and close at $125.43.

Nevertheless, United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%.

At the same time, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

Alphabet formed a session range of $123.3 to $126 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $125.87. According to momentum evaluation, according to technical analysis of Google's Relative Strength Index (RSI), the market is currently overbought. Technical chart analysis shows Google price action is currently oscillating around the $125.49 resistance level with prices moving above and below several times during the session.

A look at other communication services stocks also showed bullish price action as Netflix was up 5.54%. Meta Platforms added 3.7% to its value, and traded at $262.04. AT&T traded at $15.5 after closing yesterday's trading day at $15.15 (up 2.31%).

The stock has been trending positively for about 2 months. The past 3 months have been positive for the leading search engine company as it added 39.69% compared to its 3-month low of $83.49.