It has been obvious that Google (GOOG) has been on a great run, although it is 50 points off its 52 week high. Looking at the stock chart from a 6 month and daily time frame could lead to some cause for concern within the stock.
By looking at the 2 charts it is quite clear that Google is creating lower highs. It has also found support at the 50 day moving average; however, the average is flattening out. After hitting the lower resistance, the stock could come back down to $600 area and maybe even worse to the $500 level, but I doubt that will happen.
This is an important time for the Google stock because if it begins to take a hit, that could mean disaster for the Nasdaq, since big name stocks usually tend to have a big impact on the rest of the market.
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