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TMCNet:  Google Set to Possibly Pullback After Yesterday's Rally of 2.63%

[February 01, 2013]

Google Set to Possibly Pullback After Yesterday's Rally of 2.63%

Feb 01, 2013 (SmarTrend(R) News Watch via COMTEX) -- Google (NASDAQ:GOOG) traded in a range yesterday that spanned from a low of $758.10 to a high of $776.60. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $760.95 on volume of 3.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Google has traded in a range of $473.02 to $776.60 and is now at $775.60, 64% above that low. The 200-day and 50-day moving averages have moved 0.36% higher and 1.16% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Google on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $687.95. Since that recommendation, shares of Google have risen 9.8%. We continue to monitor GOOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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