GOOG = Watching Paint Dry
All things considered, Google’s stock price is doing O.K.
I’m serious, if you consider how poorly the technology portion of the U.S. stock market has performed over the last few months, Google has faired well.
And especially if you consider how poorly some of the “hot” stocks like TZOO, EBAY, CME have performed, then GOOG looks alright.
Today’s price action - while on less-than-impressive volume - is a bullish sign. Today was a large range day relative to recent price action. Equally interesting is the fact that GOOG opened right near the low for the day and closed just about at the high for the day. And one more thing, today’s closing price takes out a recent price high.
If tomorrow’s price action confirms today’s bullish move, then we might have another leg up for this stock.
