Google Near the 200 Day

Published on Thursday, 26 January 2012 08:24 Written by Christopher Lynn

New York, January 26th (TradersHuddle.com) - Shares of Google Inc. (NASDAQ:GOOG) traded at $569.49 close to its 200 day moving average currently set at $562.36. Google's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Google Inc. (NASDAQ:GOOG) is a global technology company that provides a web based search engine through its website. Its automated search technology helps users to obtain instant access to relevant information from its online index. The company provides targeted advertising and Internet search solutions, including web, image, groups, directory, and news searches.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $581.70 and calculated resistance at $670.25. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Google stock.

Traders wanting to establish a position on Google will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.