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Google Wants to Follow You Around the Mall

Stocks in this article: GOOGL

NEW YORK (TheStreet) -- Innovation has been the name of the game for Google (GOOGL) and a report in the Wall Street Journal shows how the Internet services giant is trying to help brick-and-mortar stores at the mall interact with on-line searches and purchases.

Google wants to use technological enhancements in on-line advertising to analyze your shopping experiences on the Web to extend your product purchases at the mall.

The question today is whether or not this development can help Google shares recover from its popping of its price bubble? On March 28 in, Pop! Goes the Momentum Bubble I warned that the momentum bubble was starting to pop. Goggle was one of eight stocks profiled in this post.

The daily chart for Google ($537.76 at Friday's close) shows that the stock set its split-adjusted all-time intraday high at $615.04 on Feb. 26 with stock below its 21-day and 50-day simple moving averages now at $568.78 and $585.87 since March 24 and is above its 200-day SMA at $513.10, which is the short-term 'reversion to the mean'.

Notice that the stock has been above its 200-day SMA since July 24, 2012 and this moving average provided a buying opportunity at $320 on Nov. 16, 2012. The stock nearly tested its 200-day SMA on Oct. 9, 2013.

Courtesy of MetaStock Xenith

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