Google Stock Quote

For all of you Fibonacci traders out there, check this out:

Google 62% retracement

Interesting that the stock trades down and pauses at the 62% retracement level of the stock’s all time price range.

Not sure if GOOG will find support at this price level, it’s worth noting.

Now you see why I don’t like to trade gaps like today’s.

GOOG opened above yesterday’s high. Did it follow through? No way. Hence the name “gap and trap".

While yesterday’s setup was a bullish setup (inside bar, three lower highs). The stock opened up higher (bullish, right?), then proceed to decline. Now the market isn’t closed yet, but given that it is a Friday and the weekend is upon us in less than 2 hours, it is doubtful that we will see much positive price action in GOOG today.

I’ll save my ammunition for another day.

Yes, the stock closed higher today.

No, the price action was less-than-convincing.

google stock chart

The big picture is that we have a trading range between the low at $95 on the first day of trading and the high of $113.48 on the third day of trading.

The lower end of the trading range has not been tested … at least not yet.

What is interesting is that we have had three days of lower lows. Also, today’s daily bar is an inside bar.

Typically, a setup like this leads to higher prices. For tomorrow, traders will consider going long if the stock trades above today’s high of $107.95. My personal preference is to only trade a stock setup like this if the next day’s open is within the previous day’s price range, or gaps down. In other words, skip the trade if it gaps higher on the open.

Share your thoughts by clicking the “Comments” link just to the left of this post.

Sure the stock rallied off of the 50% retracement … nothing to get excited about though.

30 minute stock chart

Yesterday’s end of the day weakness spilled over into today’s price action.

Google stock couldn’t seem to keep it together for another day of gains.

While the stock opend higher than yesterday’s close by almost $2, the stock quickly caved into a round of selling pressure. It took all of about a hour of trading for the stock to drop from greater than $111 to a low of less than $103.60.

What’s interesting is that the stock stayed in the $130.57 to $106 level for the rest of the day making a triple bottom in the process.

The price low today is very near the 50% retracement level of the all time high and low. (I like to say “all time” even if it’s just four trading days).

Support at the 50% retracement level

I have updated the intraday GOOG stock chart for today.

Google Fibonacci Retracement Chart

For Friday’s price action, I pointed out the Fibonacci retracement levels and the corresponding prices to watch for support. Today, the stock made a new high. As such, the price for the different retracement levels are adjusted.

Now the 50% retracement level near $104 looks like an obvious price level for support. This corresponds with the Thursday high and the early Friday morning high. A possible “resistance becoming support” level if the stock drops lower.

The last ten minute bar of trading paints a picture of traders willing to take profits on the three days of trading. For the bearish camp, the last ten minute price bar took out the early morning lows near $110. At the very least, I would expect tomorrow’s price action to test today’s low of $109.05.

There was no doubt last week that GOOG is here to stay.

The stock started its public trading life with a bang - trading more than 17% higher than the IPO price of $85 and closing the week even higher at $108.31.

Since Google is in an uptrend, let’s take a look at the intraday charts for likely support levels for buying purposes.

Google Intraday Stock Chart

If the stock pulls back from Friday’s closing price, the first likely level of support occurs at the Friday morning high near $105.

The next level of support is the Thursday high near $104. Coincidentally, this price also corresponds with the Fibonacci 38% retracement level of GOOG’s total price range (all of two days worth of trading).

The next most likely level is near $100. There is a triple bottom at that price level and it corresponds with the 62% Fibonacci retracement level.

Keep in mind that the Fibonacci levels change as the stock makes a higher high.

Let’s see what next week’s price action brings.

Shares of Google traded higher than the initial price on Thursday, opening slightly higher than $100.

From a trader’s perspective, GOOG set the daily high and low within the first hour of trading. The low was set within the first five minutes, the high near the end of the first hour of trading.

From there, the stock carved out a trading range - not really moving up or down significantly. The daily close was just $0.32 higher than the opening price.

Google stock chart for yesterday shows some bad ticks near $140 before the stock opened for trading just prior to noon eastern time.

Will be watching today’s price action to see where Google heads next with emphasis on price action around yesterday’s high and low prices.

Until we get more trading history, it’s a matter of watching how this stock acts around support and resistance levels.

Not a bad start to trading for Google.

Stock opens a penny above $100 - more than 17% higher than the $85 IPO price and has held up well, especially compared to the rest of the market.

Trading this stock from a technical perspective will require identifying support and resistance levels as the stock develops some “history".

$85.

The SEC has given Google the green light.

This afternoon, the Securities and Exchange Commission declared the registration effective …

https://www.ipo.google.com/press-release-20040818-4.html

Don’t be surprised if GOOG starts trading tomorrow morning.

Google will need to set a price for the initial sale. Stay tuned.

The hottest IPO of the year appears to have cooled off a bit.

The estimated price range for Google’s initial public offering has been lowered from a previously estimated $108 to $135 range to the $85 to $95 range.

On top of that, the amount of shares available to the public from existing shareholders has been reduced from 11.6 million to less than 6 million shares. The company still plans to sell more than 14 million shares.

What does this mean to the average investor?

This could be viewed as a positive development. A lower price range with less shares available for trading bodes for better support of the stock price.

Now it’s just a matter of the SEC giving the final nod and GOOG should be trading on the NASDAQ soon.

Final approval has been requested. Now it’s just a matter of time before the first publicly traded GOOG transaction occurs.

Google has asked federal regulators to give the final approval needed for its stock sale.

If the commission declares the registration statement related to Google’s IPO effective on Tuesday, 17 August 2004 at 4PM Eastern Daylight Time, bidders will be sent a notice of effectiveness.

What this means is that final approval could happen as early as today with trading starting tomorrow!

By now you have heard about the Google guys interview in Playboy. Seems that some are concerned about “talking during the quiet period".

All I can say is … can’t we talk about more important things?

Like, what will the initial price be at?

Some see the intial offering priced in the $70 to $110 range - not the $108 to $135 range that has been talked about.

Am I willing to predict at what price Google will go public. No way. How can you anticipate what a stock will be priced at from a company that supposedly issued illegal shares, interviews with Playboy, and has an auction for a IPO?

Regardless of what the first publicly traded transaction occurs at, expect changing prices.

Google plans to open the acution for GOOG shares at 9 AM Eastern time on Friday August 13th, 2004.

https://www.ipo.google.com/press-release-20040812-1.html

You must already have a bidder ID.

And tentatively next week, the stock will go public.

Here’s some information about Google’s financial performance:

2003 Revenue: $962 million

1 year Revenue Growth: 177%

2003 Net Income: $106 million

While I really don’t care about the financial conditions of Google for stock trading purposes, I do admit that those numbers look impressive.

Now, if there was some way GOOG could keep up those growth rate numbers for a few years …

If you have submitted a bid for Google shares, then make sure you have a funded account.

Well, the day of reckoning is finally upon us.

Google has made the announcement that the bidder registration is scheduled to close at 5:00PM Eastern time on Thursday August 12th with the auction to begin soon after.

Amazing!

It looks like Google will sell about 14 million shares and selling stockholders will provide another 11.6 million shares.

You heard right, Yahoo gets some additional GOOG shares.

Has something to do with legal wrangling over search engine technology. This is another expense that Google will have to absorb as it moves to becoming a publicly traded company on the Nasdaq.

That’s the question on the minds of numerous investors … and stock traders.

Why do I mention stock traders? Well, that’s who this site is for. I’m only bidding my time waiting for the stock to go public. Once the stock finally goes public, this site will come alive with trading opportunities as I see them.

GOOG could be the next great trading stock.

I’m fairly certain that this isn’t what the founders of Google had in mind when they started the company (Larry, “Hey Sergey, why don’t we start up this company so we can go public and let the traders have a field day with our stock."). But, with all the eyes on Google’s upcoming IPO, it’s likely GOOG will have some favorable trading characteristics, namely volatility.

So, once GOOG hits the the ticker, you’ll get my insights into this stocks behavior using all the technical analysis tricks I have.

Until then, enjoy the “news".

Dave

That’s what Google is saying to all those lucky people who previously received options that weren’t registered with the U.S. Securities & Exchange Commission.

Think about it, would you be willing to be reimbursed for your cost plus a little interest? For most people wrapped up in this legal fiasco, their cost is less than a dollar per share. Keep in mind that GOOG shares are expected to trade above $100 when released to the public.

This is an ugly situation, yuck.

You can get all of the Google IPO information by following this link.

The process for registering involves submitting your Zip code and state that you live in first. This implies that you are an American citizen living in the United States.

Once you have entered you location information, you are on to the page explaining what you need to do next. This includes reading the prospectus, meet the management, request a bidder id, and complete the bidder id request by following the link provided in an email by Google.

For the bidder ID request, you are required to answer numerous questions and accept or reject the information provided. It takes at least 5 “Accepts” before you get to a page which asks for your personal information - and this includes your social security number.

Guess who is thinking about delaying there IPO?

That’s right, Google. Turns out there is some issue about Google, GOOG, illegally issuing shares. Now nobody is saying any malicious acts have been committed, but you would think that a company preparing for an IPO would get all the details in order before getting down to the wire.

Get the details about Google delaying the IPO.