Alphabet Inc. (NASDAQ:GOOG) analysts at Needham initiated coverage of the company with a buy rating
Google’s parent company rose 1.37 percent after analysts at Needham initiated coverage of the company with a buy rating and a price target of $1,350, implying a 17 percent upside. Needham said YouTube could be a positive catalyst for Alphabet as it sees upside to its valuation.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1,220.93.
The projected lower bound is: 1,108.70.
The projected closing price is: 1,164.81.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 88.2130. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 14 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.70. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 96 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 220.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 17 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 14.230 at 1,162.030. Volume was 19% below average (neutral) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,123.25 1,085.20 1,123.42
Volatility: 17 34 32
Volume: 1,328,855 1,604,781 1,623,793
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC C is currently 3.4% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 1 periods.
Latest posts by HEFFX Australia (see all)
- Top 20 Busiest Airports in the World - June 17, 2019
- MALAYSIA AIRPORTS HOLDINGS BHD (MAHB:KL) launches Malaysia’s inaugural observation deck at KLIA - June 17, 2019
- Shanghai: SSE Composite Index (.SSEC) trading remains subdued as investors awaited cues from the U.S.-China trade negotiations - June 17, 2019