Google Stock Rising
It’s about bloody well time. Google stock price is picking up from the low back in November 2008 near the $250 range to the current price just norht of the $400 mark.
The stock is above the rising 50 day moving average AND the descending 200 day moving average. If GOOG keeps this up for awhile longer (or at least maintains the current price level), then its good times ahead.
Or maybe not. The stock is well off its all time high near $750. Expect resistance near $410 as this previously represented support back in March 2008.
To be perfectly honest, this rally looks like a corrective up wave in a downtrend. Look at the price thrusts up – the previous up was about $130, the current previous up is closing in on the $130 mark.