Thursday, March 02, 2006

Google


Here is an updated daily chart of Google. I last commented on this particular chart here.

The big break following Google's CFO little private chat with the analysts hasn't changed the picture in my opinion. The strong support at the 3 5/8 multiple of the all time low price of 95.96 held. Moreover, the huge volume (all in 30 minutes of trading) couldn't force the market below support for more than a few minutes and this makes the successful test of support even more impressive.

I think the 337 low is going to hold and that the market will soon be trading above 400.

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