Today we've chosen to take a look at Google Inc.
) because its stock is testing an interesting level of support. As you can see from the chart below, the price is nearing an ascending trendline
(white dotted line), which has propped up the price since the company's IPO
in late 2004. Today's news about incorporating ads into their YouTube videos may be the catalyst needed to send the price higher. Technical traders will be looking to enter the stock around the current price level because the nearby trendline offers an interesting risk/reward ratio
. We'll keep a bullish outlook on Google until we see the price close below the support - currently near $500.