Google (GOOG) has made some big news of late with its acquisition of Motorola Mobility (MMI) which I think overpaid for this company, and took a hit to its stock price as a result. But GOOG has probably one of the most interesting charts out there, with a clear support/resistance level shown right through the middle of its chart, that gives a clear long/short signal depending on what side of the S/R level that price is on. At the moment, I would say the bias in GOOG is to the upside and look for it to make a move back into the lower $600’s.
But should that fail, and it breaks below the support level, you could see a move that takes GOOG sub-$500’s.
Here’s the chart analysis…
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