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April 10, 2023
Today at a glance: a tough session dominated by bearish sentiment left Google $1.95 lower, while setting a $105.6 to $107.97 session range.
Alphabet made an initial break below its 3 day Simple Moving Average at $106.32, a possible indication of a forthcoming negative trend. On the other hand, note that although Google is pointing down today (was as low as $105.6), it's climbing away from the $105.93 support line and is now $1 above it.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting Google to extend its recent losses.
Google was not the only decliner in the communication services sector; Meta Platforms closed at $214.75 (down 0.62%). AT&T lost 0.41% today and closed at $19.57.
On the other hand, positive performances could be seen by looking at other communication services stocks as Comcast gained 1.43%, as it traded at $38.23.
Furthermore, United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.
The stock has been trending positively for about a month. The past 3 months have been positive for the search engine giant as it added 22.64% compared to its 3-month low of $83.49.
