September 3rd, 2010
Published Daily

GOOG – Google (Last:493.46)

by Rick Ackerman on May 27, 2010 7:13 am GMT

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Google (GOOG) preice chart with targetsGoogle has labored mightily to hold above the May 6 low at 460, but it looks like the stock will need to come down a bit more, to at least 453.90, to make a durable bottom.  We haven’t traded the stock in a while, but we’ll want to buy some shares if and when the stock falls to the target. It’s possible to nail the swings within about 20 cents when we are trading off the 15-minute chart, but in this case I’ve used 180-minute bars to project the swing low.  Under the circumstances, I’ve set an alert so that we can try to use camouflage if and when this bottom-fishing opportunity materializes. ______ UPDATECancel the order, since Google is on a flight of fancy that projects to at least 500.75.

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