Google Stock Quote

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.