Google Shares Charge Through $700 Level

 
on December 13 2012 10:42 AM

Google (NASDAQ: GOOG [FREE Stock Trend Analysis]) shares are moving sharply over the psychological $700 level Thursday morning, now up more than two percent to around $713.

The price had unsuccessfully tested this important level during three trading sessions since the beginning of December. Shares marked an intraday high above $704 on Wednesday but closed at $697.56.

Above $700, technical levels in Google shares are sparse. In October the stock pushed over $750, but weak third-quarter results failed to support the price and the stock plunged to under $680.

Action in Google Thursday morning seems to be purely a momentum/technical move; however there are a few news items running on the wires.

On the company's blog, Google announced its popular Maps app was released for the iPhone via Apple's (NASDAQ: AAPL) App Store.

In addition, Google last night announced a deal with Belgian news publishers.

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