Google Stock Quote

Google made a big “splash” with earning’s announcement.

As often happens when great news comes out, the stock made a large gap to the upside to a new all time high.

While the stock closed up respectively from yesterday’s closing price, the price action was less-than-impressive for the day (unless you sold short on the open!).

Google earnings

The linked chart shows the likely Fibonacci support levels based on the recent upswing. Coincidently, the 50% retracement is at yesterday’s high.

Here’s the facts:

Google reported that fourth-quarter profit rose to $204 million, up from $27.3 million in the year-ago period. On a per share basis that is an increase from $0.10 per share to $0.71 per share.

Those figures include compensation expenses and other charges.

Quarterly sales just about doubled from $512M to $1.032 billion.

Now the reality check:

The stock is up for the day, but down relative to the opening price at $215.02 ($204.50 as of 3:30PM eastern time). It’s likely that traders took advantage of the expected earnings strength and unloaded shares.

Let’s see where this stock finds support.