Google Stock Quote

Just a word of caution, today’s price bar was a reversal to the downside. All the typical characteristics of a downside reversal: new high with a close less than the open and less than the previous high.

Here’s a chart to show you, GOOG stock

I’m not overly concerned about this being the end of the advance. Heck, just yesterday I was saying this advance is the real deal. And I “think” it is.

With that said, the price action indicates that we may be due for a reversal to the downside … possibly. Who here doesn’t think that a 13% advance in a week doesn’t deserve some kind of break. Come on, raise your hand.

No one, that’s what I thought.

All kidding aside, there have been seven consecutive days of higher lows. Eventually, that price momentum has to give in.

Let’s see what happens if the stock trades below today’s low of $484.20.

That’s what it looks like … Google’s run in price after announcing blowout earnings.

Usually I like to give this type of news driven price moves a few days to see if its the real deal. That’s what this one looks like.

The stock is making 52 week highs - excuse me, all time highs - and is quickly approaching one of those round numbers. Don’t be surprised to see Google hit $500 in the very near future. And also don’t be surprised if it reacts “violently” at that price level - either higher or lower.