Exclusive: GM may drop LFP batteries for future electric vehicles - Reuters

GOOGL shares fell more than 3% in the last closing session, dropping to $356.28. Although the RSI at 37.46 is approaching oversold territory, the MACD remains below the signal line and in negative territory. Trading below the 20- and 50-day moving averages indicates short-term weakness. While no direct news headline impacts GOOGL, uncertainties in the automotive sector and broader market selling pressure may pose downside risks for the stock. Given the deterioration in technical indicators and loss of momentum, the bearish trend could persist in the near term.

News that GM may abandon LFP batteries could be perceived as a negative signal for cost reduction and competitiveness. Technical indicators already present a weak outlook; the stock is trading below its 20- and 50-day moving averages, and the RSI at 34 is approaching oversold territory. The MACD line is below the signal line and in negative territory, confirming downward short-term momentum. The 2.96% decline in the last session may reflect the negative impact of the news. Selling pressure is likely to persist in the near term.