SmarTrend Watching for Potential Pullback in Shares of Google After 2.66% Gain
Google (NASDAQ:GOOG) traded in a range yesterday that spanned from a low of $785.57 to a high of $800.94. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $785.85 on volume of 953,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Google on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $711.88. Since that recommendation, shares of Google have risen 9.6%. We continue to monitor GOOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, Google share prices have been bracketed by a low of $515.18 and a high of $800.30 and are now at $800.10, 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.
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