Google breakout: chart update
Google broke out above some long-term resistance today. See the daily chart below.
Here’s an updated weekly chart to show the longer-term view.
The stock had been trading in a rather wide between $450 (support) and its prior highs (resistance) near $645 since January 2010.
Today, $GOOG cleared that resistance level with ease, soaring to $665.41 by the day’s close. Not a bad trick for the first trading day of the year.