Google's potential huge wave 3 of three of 3 worth investors' attention in 2011: Review of Tony Caldaro's OEW count

Think Google's blazing performance is a thing of the past? Think again! There's a great forecast showing that, after some more rise and a little consolidation, Google should make another fantastic huge advance past the $740's to new, very high all-time new highs. This could make Google stock a great last-minute holiday present for anyone on your list (your broker can even deliver the stock certificate, but within a brokerage account is so much easier), and should rise well during 2011 and beyond. Why am I recommending this? It's a great stock setup based on its chart pattern, not to mention its predominance in the still-growing technology industries. I've browsed Tony Caldaro's Objective Elliott Wave counts on individual stocks and chose to feature this one today (thanks again Tony!). You can follow it anytime in his public charts list, using the link in each of his updates (featured here each weekend, and daily at his own "the Elliott Wave Lives On" site - see his feed, and link in the sites list, at the right side of the page anytime here). Let's take a more detailed look.

Tony has it marked as making a wave 3 of III of [3]. If you don't know how Elliott Wave works, I'll explain a few things. First and most important: Google should have made an important low and not revisit $440 again. For KI$$ purposes, just place a stop under $440 and don't worry about it. Once Google has made additional important swing lows, the stop can be moved up depending on your investment time horizon (and keep an eye on Tony's wave counts as the weeks and months roll by). Looks to me like Google will test a bit higher, then probably consolidate - maybe a rise into January and correction into March, we'll see. That correction, if it happens, will be another buying opportunity so long as price remains above $440. So accumulate on such dips. Because at some point Google will start hitting new all-time highs above the $740's and the recognition will help drive a massive wave 3 of III (three) of [3].

Stock price pattern analysts will also appreciate that, since its prior peak, Google has made a bullish reverse head-and-shoulders pattern (or some may see a traditional cup-and-handle pattern). On that basis, the Google price could tack on almost $400 additional per share. That's the kind of gift that keeps on giving!

Thanks to Tony once again - here are his daily and weekly charts of Google: