So Much For That
Google stock made it clear that the previous support at $187.72 was not going to be respected.
As a matter of fact, the stock sliced right through that price level within the first 20 minutes of trading today. The rest of the day was spent carving out a trading range in the $180.32 to $183.45 range.
So much for the $200 stock.
Don’t be too surprised if this stock sees price at the 78.6% Fibonacci retracement level in the very near future ($176.35).
After that, the next level of support is the December 9 low at $168.47.
Things change quickly.
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