I've been guesstimating that Google is on its way into the 308-312 range over the next couple of weeks. But a closer look at the price boxes which have developed since the low at 267.43 warrants a slight revision of this projection.
The boxes on the way up from 267.43 are drawn in black and are $12.72 high. The top of the third box is at 305.59. The bull market boxes in GOOG are drawn in red and are $40 high. The midpoint of one of these boxes is at 302 while a rally from 267.43 that is a full box in extent would then carry to 307.43.
So I am guessing that the midpoint of the 302-307.43 range, namely 304.71, is the best short term target for this rally.
I still think that by the end of 2005 Google will have reached the 376 level.
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