Even if Google (GOOG) isn't the most visually attractive setup on the market right now, it's another example of a stock that's testing a key resistance level this week. Shares have been pushing hard intraday today, and look like they'll still be above $546 resistance by the close. If that's the case, an open above that price on Friday marks a very solid buying signal for traders.
Google's nearest support level is a bit lower than I'd normally like to see from a risk-management perspective. With that in mind, a protective stop just below the 50-day moving average is a good compromise -- particularly given the upside momentum this stock has right now.
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