Google (GOOG) – 10-03-2008
Google continues their domination of the online search and targeted ad market, and it doesn’t seem like they’re going to get knocked off any time soon. With their recent forays into TV ads and mobile stuff amongst numerous other things, there’s still a lot of room for growth here. $500 has been a sticking point since 2006, probably largely due to the psychological resistance such a nice round number always produces.
There are two things you could watch for: a breakout over $500 as shown on the weekly chart or a break of the downward channel as shown on the daily chart. Currently that would mean breaking $460, but of course that will go down before the time to buy actually comes. Remember, patience is the key. Try to catch a falling knife and you’ll get hurt.
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