Sympathy Or The Top
Does Google’s intraday price drop indicate that a significant top is in place? Or is it just a sympathy movement based on Yahoo’s announcement that search advertising revenue grew by less than 9% sequentially?
Who knows? About a week ago, technical indications were that a top could be in place. Today’s price action gives some validity to that idea.
It will be interesting to see at what price the stock closes for the day. The current price, ~$453, is higher than the opening price. That is typically a sign of bullishness.
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