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inthemoneystock (< 20)

Google Support Range Nears

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March 16, 2011 – Comments (0)

Google Inc. (NASDAQ:GOOG) is selling sharply again on overall market weakness. It is trading lower today at 556.88, -12.68 (-2.23%). Google has been hammered over the last month and down sharply off the 2011 and 52 week highs. On January 19th, the stock hit its 2011 and 52 week high at $642.96. Since that point, Google has fallen sharply, hitting a low today of $556.06. Investors are watching this with fear in their eyes while smart traders are beginning to scope out the charts, looking for the right level for a multi day bounce. According to the chart, this level will be at the 200 moving average on the daily which also coincides with a key gap fill. This level is between $547.00 and $550.00. Google is not far away.

Gareth Soloway
InTheMoneyStocks.com

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