Google Is Near its 200 Day Moving Average
Published on Thursday, 15 November 2012 09:04 Written by TradersHuddle Wire
New York, November 15th (TradersHuddle.com) -Google Inc. (NASDAQ:GOOG) closed the trading session at $652.55 near its 200 day moving average set at $637.74. Google's price action is just above this key support level, grabbing traders' attention for 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.
The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $650.30 and resistance at $764.89. These levels will provide insight for the stock's latest price dynamics.
Traders wanting to establish a position on Google will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.