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Big Move Ahead for GOOG

Google (Nasdaq: GOOG) is a darling among the technology crowd, but its stock has not done a whole lot over the past year, as the shares continue to find resistance near $630. In fact, they dipped below that price after a recent earnings announcement in April.

But the stock also has a rising trendline that has provided support since August. This line has kept GOOG in a mild bullish trend over the past eight months.

The shares are trading roughly $10 away from resistance at $630 and trendline support at $600.

The trade is to buy GOOG on a move past $630. You may also want to sell GOOG on a move below $600. The upside target is a backtest of resistance at $660, while the downside target is $560.

 

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