Google Stock Quote

That’s right, it’s make or break time again for Google’s stock. We are sitting on the cusp of greatness - or the brink of disaster. Alright, maybe that was a bit dramatic …

After successfully testing the 200 day moving average back in mid-August 2007, GOOG made a brand new all time high this Friday. Friday’s high ($560.79) and closing price ($560.12) cleared the previous all time high set back in July at $558.58. The last four trading days were all relatively large range days. Everything signals good times ahead.

With that said, stock trading history is littered with stocks making new highs that fail to continue further - double tops that become self fulfilling prophecies of the twilight of stock price appreciation. Can we expect to see GOOG follow this tragic path?

Just a minute, let me look into my crystal ball.

I’m back now and hoping that you realize there is no way to know what the future holds for this stock. We have to make decisions that rely on the hard right edge of trading. In real time, making decisions that rely on information to date and expectations of things to come.

Here’s what I “think” might happen. Google stock will go higher. I don’t expect any significant loss in the recent price gain. I also wouldn’t be surprised if we see a cup-n-handle formation occur where the stock pulls back “a little bit” before continuing higher. An inside bar setup would provide a decent setup for entering this stock on the long side.

By now you should no better than to let my thoughts ruin your ideas for GOOG … now go forth and do what you need to do.