Google failed to re-take the moving averages in the recent run-up, with the 50 DMA and 200 DMA ready to cross. In fact, it's not like the stock was 'rejected' at the averages - it fell well short and has started to slide back down the mountain. What does this mean for the stock in the short term?
First, the markets have made new highs, yet Google didn't go along for the ride. I think this gives a piece of evidence that Google's uptrend being broken is for real. So, Until I see the stock get back above these moving averages, lower pricing is possible in the short term. Long term, I really like this company and the earning's power it possesses. Any selling that occurs is to be viewed as a buying opportunity in my opinion.
And remember, that's my OPINION. Talk to your own professional adviser for what to do with this stock.
First, the markets have made new highs, yet Google didn't go along for the ride. I think this gives a piece of evidence that Google's uptrend being broken is for real. So, Until I see the stock get back above these moving averages, lower pricing is possible in the short term. Long term, I really like this company and the earning's power it possesses. Any selling that occurs is to be viewed as a buying opportunity in my opinion.
And remember, that's my OPINION. Talk to your own professional adviser for what to do with this stock.