Google Shares Charge Through $700 Level

Google GOOG shares are moving sharply over the psychological $700 level Thursday morning, now up more than 2 percent to around $713. The price had unsuccessfully tested this important level during three trading sessions since the beginning of December. Shares marked an intraday high above $704 on Wednesday but closed at $697.56. Above $700, technical levels in Google shares are sparse. In October the stock pushed over $750, but weak third-quarter results failed to support the price and the stock plunged to under $680. Action in Google Thursday morning seems to be purely a momentum/technical move; however there are a few news items running on the wires. On the company's blog, Google announced its popular Maps app was released for the iPhone via Apple's App Store. In addition, Google last night announced a deal with Belgian news publishers.