GOOG Stock - I Do NOT Like What I Am Seeing
That’s right, I am making an about face regarding my previous analysis. Let’s face it, I was wrong. The stock hasn’t proceeded higher like I thought it might.
The next level of possible support is near the $458 level which corresponds to the 62% Fibonacci price retracement level of the previous rally AND is close to closing the gap that occurred in early April when the stock popped above the 50 day moving average. After the $458 level is the $449 level where the 79% retracement level and the 200 day moving average are located.
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