Google currently down 0.61% halfway through today

The search engine giant slides down from $106.42 to $105.77, losing 65 cents (0.61%).

Meanwhile, United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million. Housing Starts in United States fell short of market expectations (0.4%) with a reading of -0.8%, continuing the decline from the previous figure of 7.3%. United States Building Permits released today at 12:30 UTC with a figure of -8.8%, while the previous figure was 15.8%.

Concerning technical analysis and more specifically, trend indicators, despite being in the red so far in the current trading session, Alphabet peaked above its 10 day Simple Moving Average around $106.62 — typically an early indicator of a new bullish trend beginning to emerge. After descending below strong Fibonacci support at $105.84, market bears have earmarked $100.17 as the next downside target. Technical chart analysis shows Google bounced after reaching the $105.59 support zone, climbing 18 cents above it.

All in all, the technical analysis suggests Google has no clear-cut direction.

Google's stock value drop coincides with Verizon is down to $39.11, losing 0.88%, after ending yesterday at $39.46. Meta Platforms is down to $217.55, losing 0.6%, after ending yesterday at $218.86.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000.

The stock has been trending positively for about a month. The search engine giant now trading 15.47% above its 3-month low of $83.49.