Approaching Resistance: Google
Published on Thursday, 09 August 2012 08:44 Written by TradersHuddle Wire
New York, August 9th (TradersHuddle.com) - Shares of Google Inc. (NASDAQ:GOOG) are trading very close to calculated resistance at $642.60. The stock ended the trading session at just $642.23, which is near levels that make it difficult to buy or start a position.
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.
Google's stock range is defined by its calculated support defined at $562.09 and by the resistance level at $642.60; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Google. However, as the stock pulls back towards $562.09 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $642.60 then traders will get an opportunity to enter the stock as it moves to a higher range.
- Google Is Near a Key Resistance Area
- Pull Back Expected: Google
- Trading Idea: Is Google Breaking Out?
- Google Broke Resistance
- Close to the 50 Day Moving Average: Google
- Google Is Approaching its 50 Day Moving Average
- Key Levels for Google
- Is Google Closing in to Support?
- Is Google Waiting for a Break Out?
- The Range Is Tightening in Google
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