Google Trades in Downside Support Zone

Google (GOOG) is on the price downside, and the stock is likely to go lower. At its $600.25 close on January 18, 2008, GOOG is in a support zone from $625 to $550 (pink area on chart).

GOOG is still on a multi-year price upside as defined by the price channel with the parallel upper and lower green boundaries. If the stock were to drop to $550, it would test its upside trendline.

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Posted January 19, 2008.