Google retreats 73 cents from 6 months high

Google rallied to $109.63, hitting its highest point in 6 months; it later lost 73 cents and closed at $108.9.

Google's uptick comes amid disappointing United States macroeconomic data released during the session – United States Initial Jobless Claims improved upon its previous reading of 246,000 with a new data release of 228,000. United States Crude Oil Inventories fell short of the -2.33 million projections, with new data of -3.74 million.

Meanwhile, United States ISM Non-Manufacturing PMI (Mar) released yesterday at 14:00 UTC with a figure of 51.2, while the previous figure was 55.1.

Trend and momentum analysis indicates that investors are seeking long positions as Alphabet price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Google's upper Bollinger Band® is at $111.33, this is a slight indication of a slowdown. A study of Google's chart reveals various key levels to watch: Google is $1.85 away from testing key resistance at $110.75. Peaking above this level could inspire market bulls and open the path to further gains.

Notwithstanding Google's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

This rally in Google's share price coincided with other communication services stocks as Meta Platforms added 2.18% to its value, and traded at $216.1.

Google went up today, yet these communication services stocks did not follow — Netflix lost 0.88% today and closed at $339.33. Comcast went down 0.61%, closed at $37.92.

Also worthy of note, tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 239,000 from the preceding figure of 311,000.

Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The stock has been trending positively for about a month. The past 3 months have been positive for the leading search engine company as it added 24.63% compared to its 3-month low of $83.49.