Google Stock Quote

Google is moving in on the $128.84 target previously mentioned using Fibonacci expansion targets.

That’s right, once the stock took out the high set in the first week of trading, Fibonacci expansion projected a possible high at the $129 level. Now the stock is closing on that price level.

What’s next. This price level could easily turn into a serious price resistance level. Of course, the stock needs to prove that it is at resistance. And today’s price action indicates anything but that.

Traders who have a long position in the stock will consider placing a trailing sell stop below the one day low. Sell order would be placed at $120.20 or less.