Google Stock Closes above $400

Posted by Blain Reinkensmeyer
June 21, 2006 at 8:19 pm

I don’t always post on specific stocks like this, but today’s movement in Google (GOOG) was too bullish to pass up. The stock was in a weird channel wedged below the 50 day moving average and above the 200 day MA. A fall below the 200 would be a pretty bearish indicator but it proved to be support over the last almost two months and the stock held.

Today the stock shot not only up to a close of $402.13 (up 14.96 points), but it also traded 8.6 million shares and broke the 50 day resistance. Today was definately an accumulation day for the stock, and the chart looks bullish now so make sure to keep an eye on google. Put it in your watch list for the rest of June and see if its still above $400; now may be the time to buy in.