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Wednesday
Dec122012

Google (GOOG) at Key Technical Point

After a couple good days of trading, Google (GOOG) is attempting to get back above both its 50-day moving average and the psychological $700/share level at the same time.  The stock briefly got above both yesterday but pulled back by the end of the day.  If the stock can manage to close above $700 and stay there for more than a day, technical traders will get more bullish on the stock.  If it fails over the next day or two, we could see a move right back down to $650.

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