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.
- Bulls taking over on Regal-Beloit?
- Is Regal-Beloit Trade Over?
- Bulls and Bears on the Trenches of Regal-Beloit
- Are the Bears Taking Control over Regal-Beloit?
- Regal Beloit Corporation To Present At The Morgan Stanley Industrials & Autos Conference
- Regal-Beloit, Reversal Soon?
- Regal-Beloit Upside Looming?
- Bulls taking Control of Regal-Beloit?
- Regal Beloit Corporation To Present At The Jefferies 2013 Global Industrials Conference
- Regal-Beloit Formed a Bearish Engulfing Candle
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines