If You're Waiting for a Google Dip, Too Late

NEW YORK (TheStreet) -- Google (GOOG) is a buying opportunity on this recent dip.

Recently, I told you that Green Mountain Coffee Roasters (GMCR) looked cheap, and already it's up 10% for those who jumped in.

There is always opportunity for stocks that have solid projections of increases in revenue and earnings when the analysts overestimate a stock's potential and it temporarily disappoints them.

Google is having the same trouble all Internet stocks are having: How do you sell advertising on ever-shrinking mobile device screens? My thoughts are: If anyone can figure that out, Google will.

If you have been standing on the sidelines waiting for a dip in Google, it has dipped. If you bought at a recent high and want to lower your average costs, it has dipped. Look at this hourly trading chart for the past month provided by Barchart:

Google, a technology company, maintains an index of Web sites and other online content for users, advertisers, and Google network members and other content providers. It offers AdWords, an auction-based advertising program; AdSense program, which enables Web sites that are part of the Google Network to deliver ads from its AdWords advertisers; Google Display, a display advertising network that comprises the videos, text, images, and other interactive ads; DoubleClick Ad Exchange, a real-time auction marketplace for the trading of display ad space; and YouTube that provides video, interactive, and other ad formats for advertisers. Google Inc. was founded in 1998 and is headquartered in Mountain View, California. (Yahoo Finance profile)

Factors to consider (Barchart technical indicators): Short-term technical sell signals in a stock that has long-term fundamental projections of increases in revenue and earnings can be a signal to buy for investors wanting to accumulate good stocks on a dip.

Both the 8% Barchart technical sell signal and the Trend Spotter sell signal are weakening. Although the stock is trading below its 20- and 50-day moving averages it is staying above its 100-day moving average. Right now the stock is 10.25% off its recent high and the very weak Relative Strength Index of 19.31% is climbing fast. As I'm writing the stock is trading at $688.16, which is below its 50-day moving average of $712.11.

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