Antitrust Threat Looms Over Google, Shares Could Plummet by 10%!

10 Sep

Google's dominance might be ending. A U.S. judge has decided that the company's control over search is unfair competition. This could lead to Alphabet, Google's parent company, being split up and a major change in online advertising. A new era of search could be coming, as the internet's main player may soon lose its power.

Technical Analysis

• The share price has surged by over 190% since hitting its lowest point during the Covid-19 crash.
  
• Following a previous peak of $152, the stock experienced a significant drop and subsequently entered a prolonged phase of consolidation.
  
• After approximately 2.5 years of this price stabilization, the stock finally broke through its prior resistance in April 2024.
  
• This significant breakthrough resulted in an impressive surge, propelled the price to a new all-time high of $193.
  
• However, the stock price faced considerable resistance at that level, resulted in a decline and eventually breaking down of its upward-trending parallel channel.
  
• The stock is likely to experience a sharp decline of about 10%, finding support somewhere between $132 and $131.