Home Coronavirus Alphabet Inc. (NASDAQ:GOOG) , Apple Join Forces to Develop Coronavirus Tracking Technology

Alphabet Inc. (NASDAQ:GOOG) , Apple Join Forces to Develop Coronavirus Tracking Technology

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Alphabet Inc. (NASDAQ:GOOG) , Apple Join Forces to Develop Coronavirus Tracking Technology

Apple Inc. (AAPL) and Alphabet Inc.’s Google (GOOGL) are planning to develop a contact-tracing software technology that will be added to their smartphones and seeks to slow down the spread of the coronavirus pandemic.

The rare collaboration between the two rival tech giants will enable the use of bluetooth technology to help governments and health agencies contain the spread of the virus, while user privacy and security are preserved, the two companies said in a joint statement.

More specifically, the partnership will add technology to their smartphone platforms that will alert users if they have come into contact with a COVID-19 infected individual. Once users have been alerted, they will be told to go into quarantine. For the technology to be effective, smartphone users must voluntarily opt into the system and add to their public health app if they test positive for Covid-19.

The two tech giants said that the software technology, known as contact-tracing, will be built into their iPhones and Android devices in two steps. Initially in May, the two companies plan to release software technology to enable the exchange and use of information between Android and iPhones devices using apps from public health authorities.

These official apps will then be available for users to download via their respective app stores. Second, in the coming months, Apple and Google will work on enabling a broader Bluetooth-based contact tracing platform by building this functionality into the underlying platforms, which would allow more individuals to participate.

“Contact-tracing can help slow the spread of COVID-19 and can be done without compromising user privacy,” Apple Chief Executive Officer Timothy D. Cook said in a Twitter post.

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 1,350.81.

The projected lower bound is: 1,062.20.

The projected closing price is: 1,206.51.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

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 84.5623. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 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 51.78. 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 19 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 134.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 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 buy 10 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 1.170 at 1,211.450. Volume was 5% above average (neutral) and Bollinger Bands were 1% narrower than normal.

Open     High      Low     Close     Volume___
1,224.0801,225.5701,196.7351,211.450 2,175,421
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 1,153.98 1,299.45 1,269.11
Volatility: 68 76 44
Volume: 2,409,560 2,561,665 1,667,859

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 4.5% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 0 periods.

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