Google is currently supported by a 50% retracement value located at 294.05. It is required that all daily closing prices close above this level, respectively. The same input as before for applying standard deviation indicates that Google is currently between the +/- 1.618 deviations, almost directly at the *mean. The current mean is $301.29 and the last daily close was $299.67. The ability for Google to currently remain at its mean while a stock like NYX resides at its lower deviation is likely the result of Google having a higher beta. The initial upside target for GOOG is $362.33 and the second target is $409.01. These remain sufficient targets unless GOOG breaks below its low of $247.3 set on 11/21/08
No comments:
Post a Comment