Today was another great day to trade tech stocks like Priceline (PCLN), Apple (AAPL), Netflix (NFLX), and Google (GOOG). Out of all tech stocks, Google looked the weakest today. A lot of tech stocks gapped down; however, each of the above mentioned stocks (with the exception of Google) were able to rebound and close in the positive territory:
- Netflix gapped lower at around $245, but ended closing up 10 points at $255.72.
- Priceline also gapped lower at around 474 but ended closing up almost 10 points at $490.
- Apple gapped lower at $318.95 but ended closing up almost 9 points at $331.23.
- Google was the exception, gapping lower at 482, and closing in the red (down 6.79 points at $480.22).
The Federal Trade Commission is poised to serve Google Inc. with civil subpoenas, according to people familiar with the matter, signaling the start of a wide-ranging, formal investigation into whether the Internet-search giant has abused its dominance on the Web.
Based on the technicals and negative news, Google is looking very bearish. Next support is around $460.