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Google Inc. Message Board

  • i_am_bill_the_cat i_am_bill_the_cat Nov 20, 2004 8:00 PM Flag

    This looks very much like KMRT...

    before it took off after a double bottom. I can't see buying the stock, but I sure wouldn't short it. I watched a buddy get eaten alive by TZOO.

    One of the expert tech analyst's throuhts are:

    ...Zanger studies chart patterns, price and volume action, and he cares little of Google's fundamentals. According to Zanger, Google has found support in the mid-160s, at the top of the gap that the stock made when the company announced in October that it earned 19 cents per share in the third quarter, on $805.9 million in revenue. That support, even in the face of the lockup expirations, leads Zanger to believe that buying now would be a good idea.

    There are two other buy points for Google that Zanger is looking for. The next bullish point would be when it crosses over the downtrend line that it formed in November. Right now, Zanger says, "the descending trend line stands at $186."

    After that, the safest buy point, from Zanger's technical perspective, would be when Google "clears $202, or if it hits new highs should it split over the next few months, which is altogether possible." Zanger is advising readers to start accumulating now, but to pile in once Google moves above $202.

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