Google-parent Alphabet (GOOGL) on Friday flirted with a 52-week low. But Google stock closed nearly flat, as the Nasdaq composite also clawed back from session lows.
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Google shares fell 0.1% to close at 102.80 on the stock market today. GOOGL stock is down about 30% in 2022.
In intraday trading, Google stock slipped to 100.94 in the morning, then climbed back slightly above its previous low of 101.88 set on May 24. Meanwhile, the Nasdaq fell 0.9% to 11,448.
The internet giant completed a 20-for-1 split for shares of Google-parent Alphabet after the market close on July 15. Shares are down about 8% since the stock split.
GOOGL stock jumped 65% in 2021.
Meanwhile, Google’s Relative Strength Rating is only 25 out of a best possible 99, according to IBD Stock Checkup. The best stocks tend to have an RS rating of 80 or better.
Google Stock: Technical Ratings Fall
Google stock owns an Accumulation/Distribution Rating of D-minus. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading.
The rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling. Think of the C grade as neutral.
Google stock holds an IBD Composite Rating of 54 out of a best possible 99.
IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
As of Sept. 16, Google stock is not in a buy zone amid volatility in the tech sector. It needs to forge a new base to be actionable.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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Source: https://www.investors.com/news/technology/google-stock-slips-flirts-with-52-week-low/?src=A00220&yptr=yahoo