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June 12, 2023
While on a 4 day downtrend A slight improvement can be seen from Friday's session: after closing at $122.67 on Thursday, Google rallied as high as $124.28 but ended the day at $122.87.
Technical chart analysis shows Alphabet is approaching key support, around 79 cents away from $122.08. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Meanwhile, mixed performances were seen by other communication services stocks as Netflix traded at $420 after closing Friday's trading day at $409.37 (up 2.6%). AT&T retreats 0.75% Friday to close at $16.07.
Data to be released today might clear up some of the market fog as United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.
The stock has been trending positively for about 3 months. Having set a significant high of $127.91 6 days ago, the search engine giant is trading 4.1% lower.
