GOOG At All Time High
Not too surprising that Google is at an all time high. What is good to see is that today’s new high was done on decent volume and exceeded the 100% price projection.
Check out the chart. The “1 or A” leg up that started in early March 2007 and completed with Google’s better than expected earnings (20 April 2007) has been matched AND exceeded off of the leg up that began on 15 May 2007. What I would like to see is the stock stay above the 100% price projection of $512.91. If price does pull back then I would expect the ~$513 level to offer decent support (double top - 22 November 2006 and 16 January 2007).
For those already looking ahead to higher prices, the 162% Fibonacci projection level is at $547.21. Think we can get there?
