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Tuesday, April 03, 2007 

Google - GOOG Long idea

Chart courtesy of stockcharts

Shares rose more than 3% today to 472.60$ after received a Bullish report from an analyst of Goldman Sachs. Analyst Anthony Noto advised investors to buy Google shares given 30%-plus upside to his $620 year-end price target. The first-quarter 2007 results, Noto argued, should reinforce that price target as they should meet or exceed his forecasts and inspire increased investor confidence. "2007 is likely to be a year that illuminates new growth opportunities in Google's current areas of investment, including branded advertising, video, non-web advertising, and software services," Noto wrote. The technical chart shows a big jump today and stock breaking above 465$ resistance level, with MACD also rising.
Now with MACD above 0 and stock back above 50 day moving average the stock should be expected to move up.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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