Google Stock Quote

That’s not a good sign for GOOG stock.

The overall market made an impressive move to the upside and Google did just the opposite. Today was a reversal day to the downside.

The stock closed down today relative to yesterday’s close, closed down relative to today’s open and closed below yesterday’s low.

The recent rally - with five consecutive higher lows - sets up a downside bias with the stock trading below yesterday’s low.

Just look back at the start of the recent five day rally. It started in just the opposite manner. The stock made six consecutive lower highs - once the stock traded above the previous high on 23 November, the stock moved up more than $10 in one week.

That’s the type of price action that this stock has delivered for the past month - the stock moves in one direction, but once the sequence of either higher lows or lower highs is broken the stock moves in the opposite direction.

Now that the “pattern” is obvious to us, let’s see if it continues.