The other day we noted the bearish head and shoulders formation in the GOOG chart along with the breaking of its 50-day moving average, which it failed to recapture yesterday even after a great deal of buyside defense.
In going through the analysts comments, Soleil had some especially noteworthy things to say. That firm claims that that GOOG's average price per search keyword is down more than 10% since the start of the year. The firm also says U.S. search revenue dropped to 6% sequential growth in the third quarter. Those comments went by pretty much unnoticed especially after PACS lifted its target from $500 to $575. We'll see who's right eventually.
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