Going After Google
Google (GOOG) is a tough one today. I don't feel like expectations are that high going into the quarter. And we've seen the shares give about $40 in the last six trading sessions. But only 10% off all-time highs and 7% off the premature release price from last quarter, it is hard to say the market is overly bearish either. Options are pricing in close to a $39 move, which feels about right according to the technical picture.Google (GOOG) Source: StockCharts.com View Chart » View in New Window »
While the chart may tilt bearish, there aren't any divergent indicators but rather indicators that just confirm the recent price action. This leads me to look to the charts for price target since there isn't a great deal of help on direction. For that, we'll have to consider sentiment and fundamentals. The upside targets on Google point to $740 and $770, with $740 feeling much more likely on a good number. Downside targets are a bit more temperamental, but I am looking for a test of the $640-$660 level with the stock ultimately ending the week a bit above $660 if earnings disappoint....278 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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