GOOG at $400
If history is any indication of what might happen next, then Google stock is likely to have a difficult time breaking the $400 mark.
Previously GOOG ran into resistance at the $200 and $300 levels in Novmeber 2004 and June 2005, respectively.
Of course, we know what happened since. While I have very little doubts that Google’s stock price will move higher, I am fully prepared for the stock to spend some time forming a base at or below the $400 price level before moving higher.
Here’s some fibonacci time analysis that suggests a top might be forming.
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