- Google rallied rather significantly at the open on Wednesday, piercing the crucial $300 level.
- The $300 level is a large, round, psychologically significant figure and an area that will attract a lot of attention.
- With the announcement of Gemini 3.0 it suggests that perhaps Google is moving forward in the artificial intelligence battle, which is the only thing that Wall Street seems to be paying attention to at the moment.
Dividend Date Coming
It is worth noting that we have an ex-dividend date of December 8th, so the later we get into this month, it is possible that some dividend collectors will get involved. Even if we were to pull back from here, there are plenty of support levels below, but the most obvious one is the $270 level, an area that had seen buyers jump back into the market just a couple of days ago. The 50-day EMA currently sits at the $260 level and is rising, and then of course, there is an uptrend line underneath there.
Top Forex Brokers
Ultimately, if we can break above the top of the candlestick for the trading session on Wednesday, then it would be likely that Google really starts to take off to the upside. I am bullish in this market, but I look at pullbacks as opportunities, not something to be feared. A pullback at this point offers enough value that traders will likely be interested in purchasing Google stock, which is a stalwart not only in artificial intelligence but in passive investing in general, as Google is one of the biggest names on Wall Street.
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