Friday at a glance: slightly down but mostly flat: Google ranged between $93 and $94.49 before closing at $93.07.
Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $92.45, a low enough level to, generally, suggest that Google is trading below its fair value. A study of Google's chart reveals various key levels to watch: Google could begin to recover as it approaches significant support, now 51 cents away from $92.56. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates Google will remain range-bound for the immediate future.
Google was not the only decliner in the communication services sector; T-Mobile went down 1.56%, closed at $143.81.
On the other hand, positive performances could be seen by looking at other communication services stocks as Netflix traded at $320 after closing Friday's trading day at $310.26 (up 3.14%). Verizon was up 0.81%.
Furthermore, United States Consumer Price Index is expected tomorrow at 13:30 UTC. United States Consumer Price Index is expected tomorrow at 13:30 UTC. United States Core Consumer Prices is expected tomorrow at 13:30 UTC.
Having set a significant low of $83.49 a month ago, the leading search engine company is trading 12.53% higher.