google-parent Alphabet (GOOGL) Friday flirted with a 52-week low. Google stock slid to 100.94 in intraday trading, then rallied slightly above its previous low of 101.88 set on May 24.
In midday trading, Google shares settled at 101.79, down about 1.1%, in the stock market today. With Friday’s loss, Google is down about 30% in 2022.
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The internet giant achieved a 20-to-1 split for shares of Alphabet, Google’s parent company, after the market closed on July 15. Shares have fallen about 8% since the stock split.
Google stock jumped 65% in 2021.
Meanwhile, Google’s relative strength rating is only 25 out of a possible 99, according to IBD Stock Checkup. The best stocks tend to have an RS rating of 80 or better.
Google Stock: Technical Valuations Fall
Google stock has an accumulation/distribution rating of D-minus. This rating analyzes the price and volume changes of a stock over the last 13 weeks of trading.
The rating, on a scale of A+ to E, measures the institutional buying and selling of a stock. A+ means heavy institutional purchases; E means heavy sale. Think of the C note as neutral.
Google stock holds an IBD composite rating of 54 out of 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 higher.
As of September 16, Google stock was not in a buy zone due to volatility in the tech sector. It must forge a new base to be exploitable.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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