Google ascends 0.84% after trading as low as $107.59

The leading search engine company trades at $109.1 today, after closing yesterday at $108.19 and gaining 91 cents (0.84%).

Google's uptick comes amid disappointing United States macroeconomic data released during the session – following a previous reading of 0%, Core Retail Sales in United States released today at 12:30 UTC fell short of the -0.3% figure expected by analysts with an actual reading of -0.8%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%. Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%.

Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Alphabet price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $109.54, thereby suggesting that Google is becoming overvalued. A study of Google's chart reveals various key levels to watch: Google could be slowing down soon; it is getting close to the resistance line and is now at $108.82, only 28 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Overall, the technical outlook suggests Google is likely to remain muted for the immediate future, with no clear-cut direction.

Meanwhile, after closing the previous session (yesterday) at $346.19, Netflix lost $7.66 and is trading around $338.53. Verizon is trading around $39.03 (down 0.74%). Comcast is down to $37.7, losing 0.91%, after ending yesterday at $38.05.

The stock has been trending positively for about a month. The leading search engine company has managed to gain 20.61% so far this year despite trading at lows around $83.49 previously.