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Shares rose more than 3% today to 472.60$ after received a Bullish report from an analyst of Goldman Sachs. Analyst Anthony Noto advised investors to buy Google shares given 30%-plus upside to his $620 year-end price target. The first-quarter 2007 results, Noto argued, should reinforce that price target as they should meet or exceed his forecasts and inspire increased investor confidence. "2007 is likely to be a year that illuminates new growth opportunities in Google's current areas of investment, including branded advertising, video, non-web advertising, and software services," Noto wrote. The technical chart shows a big jump today and stock breaking above 465$ resistance level, with MACD also rising.
Now with MACD above 0 and stock back above 50 day moving average the stock should be expected to move up.