Google Remains Range Bound

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Google

shares are trading higher by $11.31 at $538 in Wednesday's session. After a higher open ($529.35 vs, Tuesday's close of $526,690, it retreated only $01, but resuming its rally. The once high flying momentum stock has been not participated in the market's run to new all time high. In fact, it is quite a distance from its all time of $61.,44 that was made in February 2014. Since May 6 it has been a well defined trading range from $521.06 to $544.19, testing the upper end on the range on multiple occasions but unable to break out. No catalyst have been provided by Wall Street analyst and the company itself has not made any new announcements to instigate a rally. So far,it has reached $538.17 and has not backed off much from that level. That marks the highest level for the issue since it put in a pair of highs on June 2 ($543) and June 3 ($543.50), which is just shy of the upper end of the month-long trading range. Google did manage to pop to $571.14 despite missing on both EPS and revenue., The gains were short-lived and the issue established the lower end of the trading range only eight sessions later.