Google is moving towards the 50 Day EMA and on this chart, it looks likely the stock will hold that level.
Watch 578. And if the 50 day fails, watch 562 for support at the 200 day.
Today we look at Google, a Nasdaq Bellwether. This is a very important stock for the market and even if you don't own this stock (or any stocks at all) - it's one to watch. Google is moving towards the 50 Day EMA and on this chart, it looks likely the stock will hold that level. However, if you look at the one year chart - Google made a troubling lower high in mid-July, unable to make a high about the March peak of this year. Can Google get back above 600 and make a new high or will the 50 day Moving Average give way? Watch 578. And if the 50 day fails, watch 562 for support at the 200 day. The Chart below is a reminder of what I think of the stock in general. Google has cash on hand. BILLIONS. Any weakness in the stock is a buying opportunity in my opinion. You've been learned!
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