Monitoring Google Stock Price as Antitrust Lawsuit Develops
Introduction
Alphabet Inc. (NASDAQ: GOOGL) is currently under scrutiny as the Department of Justice considers an antitrust breakup due to allegations of monopoly in the search market.
Recent Developments
- Judge Amit Mehta's ruling found GOOGL guilty of dominating 90% of the search engine market.
- The DoJ is contemplating forcing Alphabet to divest key segments like Android, Chrome, and AdWords.
In the latest trading session, GOOGL shares closed at $164.16, with a minor increase followed by a 0.90% decline in pre-market trading.
Price Levels to Watch
- Resistance level at $163.81 needs to be reclaimed if losses are sustained.
- The next support level is set at $154.92, previously established in April.
The Relative Strength Index (RSI) currently indicates a sustained upward momentum at 59.62.
Potential Impacts on Other Companies
Should a breakup occur, companies such as Apple (NASDAQ: AAPL), Samsung, and Mozilla could see significant impacts due to dependence on Google for revenue.
Conclusion
As the antitrust case against Alphabet progresses, investors should keep a close eye on trading levels, as they indicate potential market reactions and broader economic implications.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.