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Google Bullish Moving Average Crossover Alert (GOOG)

Published on Wed, 01/02/2013 - 12:11
By Robert Cotter

Google (NASDAQ:GOOG) shares have crossed bullishly above their 10-day moving average of $711.94 on a volume of 1.3 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Google have traded between a low of $473.02 and a high of $774.38 and are now at $719.75, which is 52% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.3%.

Google has overhead space with shares priced $719.75, or 9.7% below the average consensus analyst price target of $797.41. The stock should find initial support at its 50-day moving average (MA) of $686.80 and further support at its 200-day MA of $650.81.

Google Inc. is a global technology company that provides a web based search engine through its website. The Company offers a wide range of search options, including web, image, groups, directory, and news searches.

By Robert Cotter
rcotter@fnno.com