Alphabet Inc. (NASDAQ:GOOG) be Able to Trounce Expectations Again?
Google’s parent company Alphabet Inc. GOOGL is poised to report fourth-quarter results after the market closes on Feb 4. Alphabet’s earnings have exceeded Wall Street’s expectations in the first three quarters of 2018 and the good momentum is well expected to continue in the fourth quarter. After all, its revenue sources including Google Cloud, hardware and Google Play have been growing at a pretty fast pace in recent times.
The Zacks Rank #3 (Hold) company is widely expected to report $11.12 o f earnings per share for the fourth quarter, higher than $9.70 reported a year ago.
Alphabet’s earnings growth for the current year is 31.4%, way more than the Internet – Servicesindustry’s gain of 4.1%. The Zacks Rank #3 company has outperformed the broader industry so far this year (+5.4% vs +0.3%).
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 1,088.34.
The projected upper bound is: 1,126.16.
The projected lower bound is: 996.06.
The projected closing price is: 1,061.11.
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 23 white candles and 27 black candles for a net of 4 black candles.
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 38.2893. This is not an overbought or oversold reading. The last signal was a sell 5 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 49.01. 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 72 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 -64. This is not a topping or bottoming area. The last signal was a sell 1 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 sell 0 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -9.460 at 1,060.620. Volume was 45% below average (neutral) and Bollinger Bands were 31% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,078.80 1,053.24 1,116.04
Volatility: 30 40 33
Volume: 1,336,108 1,800,349 1,657,869
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 5.0% below 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 15 periods.
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