Google Inc. – A stock that surged 27%

Twenty seven percent in a week, 16% in a day. That sounds pretty good for a blue chip stock right?

On Friday, Google has set a new all time high at 699.62$, after it reported that second-quarter net income was $3.93bn in the three months to end-June, up from $3.35bn for the quarter a year earlier. The rise took the company’s market size to well above $400bn, below Apple, which is currently valued at $745bn. The results ended six consecutive quarters in which Google’s earnings fell short of analysts’ targets.

The chart above shows the last really good quarter Google reported, which pushed the stocks value almost 14 percent.

Lets take a look at a weekly chart to see exactly where the stock stands.

I am not going to try and figure out trades, this is parabolic and right now from a trading stand point, should be left aside. However, as an investment, it might not be the case. Last week looks like a true breakout, with heavy volume and a very wide range. After breaking 700$, a psychological level, Google has held high right below the round number, without giving back any gains after a sixteen percent surge. No one is planning to get rid of this stock, people are still piling in. If wee look in the past, a similar breakout occurred at the last very profitable earnings report, with high volume and wide range (the first picture in this article), and Google went higher and higher for the next few months, eventually entering into a prolonged consolidation period (which ended last week). I personally hold Google stock, and I am planning to be holding it for a while. I wouldn’t advise buying now, but I think this is definitely a great investment!

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.