Technical Watch: Google GOOG (531) Approaching dangerous key suppport level

Since Google's continued censorship controversy with China, the stock price has continued its plummet toward key support levels. Watch for a break lower initiating strong selling as confidence wanes targeting the 475 level. While short-term indicators are flashing oversold levels, expect a potential bounce at the 520-525 support levels. However, the longer-term view maintains a range -bound consolidation within the 475-550 area.