Friday, January 20, 2012

GOOG: False Break Out or Back Test Resistance to make Support?

Google dives on rare earnings miss (Seeking Alpha). Google's shares sunk 7.9% premarket after its Q4 results missed Street estimates, although EPS rose 8.6% to $9.50 and net revenue jumped 25% to $10.58B. Google's earnings were affected by a 35% increase in costs to $3.38B, unfavorable forex rates, alterations to its ad formats, and the sale of more mobile ads, which cost less. Jefferies said the sharp stock decline "is an over-reaction to actually a decent quarter, buried under a lot of noise."

GOOG weekly Chart (Google Finance and

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