Google Inc GOOG shares are trading lower by $10.02 (1.8 percent) at $524.50 in Monday's session. It rallied in a surprising fashion on Friday, after announcing lower-than-expected Q4 EPS ($6.88 versus estimates of $7.08) after Thursday's close.
In volatile after-hours trading on Thursday, Google dipped under $500.00 before finding support under its December 12 low ($487.56), reaching $485.19 before ending after the session at $517.88. The strength in the issue continued into Friday's session, as it reached $539.87 before retreating to settle at $534.52 for a gain of $23.96.
The $540.00 area has been a very important area of resistance for the issue going back to late November. In six consecutive trading sessions (November 21 through December 1), it peaked between $541.41 and $543.98. It peaked at $542.17 on January 23 before retreating to the lower $500.00's ahead of earnings.
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