Google ($GOOG) has been trending lower since mid January, but support may be at hand in the 515 area. Broken resistance and the 62% retracement combine to mark support here. Also notice that RSI has a bullish divergence working the last few weeks.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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