Wednesday, June 28, 2006

Google


Here is a daily chart of Google. I last commented on GOOG here.

Google ended a drop from the 455 level at 360 on May 19 and since then has steadily moved higher. This is very good price action in the face of a sharp drop in the averages that ended 3 weeks later on June 14. GOOG has been hesitating at 410 resistance but I think it will drop no lower than 390 before rallying to the next resistance near 430.

I am still very bullish on GOOG and think it has a good shot at the 530 level later this year.

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