The chart tells us Google has been in a topping pattern for quite some time, putting in a series of lower highs and lower lows over most of the last year. However, there was a bright spot of strength lately that is being tested with the most recent sell-off. Will the bulls return fire or will the bears manage to drive the stock back towards 500?
I believe Google is a buy in this range AND it might go lower. So don't spend all your buying power in one shot. Watch for 531. If that breaks, we'll see more weakness.
Short term rating BUY
Long term rating BUY
On the first chart you can see Google is pushing away from the moving averages. This action will soon put a stop to the rise of the 50 day and break the momentum that had been re-established.