Friday's lacklustre sentiment ensured Google slid 1.89%

A quick look at Friday: the leading search engine company dropped 1.89% early on and traded close to the $89.35 level.

The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. In contrast, although Google is down today and was as low as $88.86, it seems to be recovering slightly and climbing away from the $88.76 support line and is now 59 cents above it.

Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Google to extend its recent losses.

Google was not the only decliner in the communication services sector; Comcast went down 1.83%, closed at $37.69. Netflix lost 2% Friday and closed at $317.15. Meta Platforms went down 0.96%, closed at $172.04.

Looking ahead, ongoing depreciation may be prolonged as United States Pending Home Sales expected to decline to 1% while its preceding data was 2.5%, data will be available today at 15:00 UTC.

Moreover, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released today at 13:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5, having previously been at 107.1. The figure will be published tomorrow at 15:00 UTC.

Having soared to a high of $143.64 approximately 10 months ago, the search engine giant is now trading 36.6% lower.