The Google Wind Up
Pause for a moment and reflect on today’s price bar. what do you see? An inside bar.
Is anybody really suprised with this? You shouldn’t be. The fact that today’s price range is within yesterday’s price range indicates “indecision". Since there is effectively no trend in the stock for the last week of trading, then I am expecting a breakout from this price range. Why would there be indecision - tomorrow’s earnings report, of course.
I just did a quick skim of the news around GOOG’s expected earnings and I have to say that there appears to be no room for error. Google is being set on a pedestal that some day will not support the price valuation that gets heaped on this stock. Until that occurs, enjoy the show.
