Google: Possible Entry Point before Earnings Release.
Google has fallen roughly 25% from its 52 week high in the mid $740s to the mid $550s. This tech darling still has a remarkably high growth rate in the 50% range, and with Yahoo continually underperforming its likely that Google will be the beneficiary.
Therefore, if you are bullish on Google this buying opportunity could be the last one available for some time.
The chart indicates that GOOG is just now reaching the bottom of its long term bullish trendline, which amazingly extends as far back as its IPO in 2004. I would estimate some form of consolidation will take place today (01/30/08) and tomorrow, with some large bets in either direction being purchased prior to the earnings release after the bell tomorrow (01/31/08).
Again, my advice is play it safe and wait for some sort of price consolidation or even better, some form of direction prior to the earnings release after the bell.
Good luck!
