Google Stock Quote

Google stock has been moving higher.

Unlikely the previous rally that took the stock from $165.27 to a high of $189.80 in a matter of a few days, this rally is choppy.

There are two gaps on this recent rally, the stock opened higher than the previous high (not just the previous close)! Neither of these gaps have been filled.

I’m going to a paint a less-than-rosy scenario for this stock in the short term.

First, gaps have a nasty habit of being filled. Gaps act like a magnet for prices. In this case, the argument is for lower prices.

Second, until the stock at least matches the previous $24.53 runup that started from the $165.27 low on 9 November 2004, the recent downtrend is still in tact. The upside target to match that move is $185.84. Today’s high of $182.95 is a little shy of that price.

matching move