Google Inc. (GOOG) is in the early stages of a technical formation known as a double top. It is far too early to place a trade based on the formation, but it is certainly worth keeping an eye on. The double top resides at 513, with middle valley support at approximately 453.

If GOOG breaks through 453 middle valley support, the double top formation will be playable. I could see GOOG filling the gap just below the 453 support line very quickly after a 453 support break. 420 would be the first level of support after the gap fill, but the double tops measured move takes the stock all the way down to 393.

GOOG is a strong stock, and betting against it is not something I highly recommend. That said, you cannot ignore this potential formation and must watch for further development.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.