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Berger: Searching for Google’s next move
Despite missing top & bottom line estimates for the first quarter, Google’s stock rallied 3% on Friday. The stocks gains reflected the broader rally in the technology sector, which pushed the Nasdaq to an all-time high of $5,092.09. This record breaking move topped the previous high set in 2000 of $5,048.62. Serge Berger, better known as The Steady Trader, says that it is necessary to “respect the price action – not only in Google – but in the broader technology space”. Given the current optimism surrounding the technology sector, Google’s stock could be prepared to break out of a 14 month long period of consolidation and sustain its move higher. Therefore, Serge is looking to buy the company’s stock at $583.00 or higher with a target of $615.00. A stop can be placed at $565.00.
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01:30 minutes
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