Google Lovers Beware - Your Stock Is Headed Lower

It wasn't long ago that people were speculating that Google (GOOG) was headed to $1,000. But the stock has hit a serious speed bump; it closed today at $464.19, down 37.42 percent from its all-time closing high.

The stock shows a classic bump and run reversal top with its current downside below its long-term upside (lead-in) trend line.

Google is most likely headed lower as it enters a rather broad support zone (pink area on chart).

Related Articles:

Anatomy of a Bubble Top
Price Patterns - Bump and Run Reversal Top Defines Price Bubble
Google's Price Bubble Bursts - What's Next?
Price Patterns - Support Levels May Constrain Price Downsides

Posted February 26, 2008.