Alphabet Inc. (NASDAQ:GOOG) announced a new external ethics council which will examine its development of AI

Alphabet Inc. (NASDAQ:GOOG) announced a new external ethics council which will examine its development of AI

Alphabet Inc. (NASDAQ:GOOG) announced a new external ethics council which will examine its development of AI

Google has set up a new external ethics council to oversee its development of AI, but one of its members has been criticized for her anti-trans and anti-immigrant views.

Google’s VP of Global Affairs Kent Walker announced the new Advanced Technology External Advisory Council (ATEAC) in a blog post on Tuesday.”This group will consider some of Google’s most complex challenges that arise under our AI Principles, like facial recognition and fairness in machine learning, providing diverse perspectives to inform our work,” Walker said.

Google has stoked anger around its development of AI in the past. In June last year, it killed off Project Maven- its military drone project – after a dozen employees resigned in protest.

Kay Coles James called out for her views

William Joseph Burns was Barack Obama’s secretary of state from 2011 to 2014, and prior to that was ambassador to Jordan and Russia.Kay Coles James is president of the conservative think tank the Heritage Foundation. Os Keyes, a researcher at the University of Washington, criticised Google’s appointment of James on Twitter, saying she has expressed anti-trans and anti-immigrant views.

James has previously opposed allowing “biological males” in women’s bathrooms, according to a tweet, and supported Donald Trump’s declaration of a national emergency over his proposed border wall as ” thousands of illegal aliens, dangerous criminals, drug smugglers and sex traffickers crossing [sic] the border every day.”

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 1,141.27.

The projected upper bound is: 1,221.39.

The projected lower bound is: 1,129.79.

The projected closing price is: 1,175.59.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 16.5389. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 2 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 52.31. 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 sell 3 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 -75. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -11.600 at 1,173.020. Volume was 17% below average (neutral) and Bollinger Bands were 14% wider than normal.

Open High Low Close Volume___
1,185.5001,187.5591,159.3701,173.020 1,400,240

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,196.48 1,131.71 1,130.66
Volatility: 22 26 32
Volume: 1,639,041 1,489,808 1,628,782

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.

Summary

ALPHABET INC C is currently 3.7% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 17 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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