Chart Request: Google, Inc. (GOOG)

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This was sent by Joe a couple of days ago, before GOOG broke 420 (sorry for the delay):

Mike, looks like Google is breaking out of the decending triangle. What do you think? Is it about to go up once it break 420 or it is just in the range?

I'd say it's still range-bound until it takes out the old high of 431. While it's really tough to argue with Google's price action the volume is really lacking. I'd stay alert for the possibility of a double top forming. around 430...

P.S. Watch for the pin to 420 tomorrow.

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If anybody wants to check out a cool chart site that gives you price targets, go to www.stockconsultant.com . Their take on GOOG? If it breaks $433.89, their breakout target is $468.8.

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"You can't make money if you're not willing to lose. It's like breathing in, but not being willing to breathe out. Various types of exits will help you do this (i.e., breathe fully), including trailing stops and the percent retracement stop." ~ Van K Tharp
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This page contains a single entry by Michael published on December 15, 2005 6:23 PM.

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