Alphabet Inc. (NASDAQ:GOOG) CEO hearing in U.S. House likely to be postponed

Alphabet Inc. (NASDAQ:GOOG) CEO hearing in U.S. House likely to be postponed

Alphabet Inc. (NASDAQ:GOOG) CEO hearing in U.S. House likely to be postponed

The U.S. House Judiciary Committee will likely put off until next week a hearing with Google Chief Executive Sundar Pichai on the Alphabet Inc (O:GOOGL) unit’s social media practices because of the state funeral of former President George H.W. Bush, Chairman Bob Goodlatte said on Sunday.

Pichai had agreed to testify before the panel over Republican concerns that the company is biased against conservatives after it skipped a high-profile Senate hearing. Google has denied it is biased toward conservatives.

The hearing has been scheduled for Wednesday, the same day a state funeral will be held for Bush at the National Cathedral in Washington.

Goodlatte said in an interview with Fox News “Sunday Morning Futures” that he expected the hearing to be rescheduled for next week.

“But we expect that to occur and it’s very, very important that it do occur,” he said.

In addition to queries about possible political bias, lawmakers may also examine Google’s potential investments in China.

Google previously told U.S. lawmakers it was considering options to offer additional services in China, but declined to detail plans for addressing Chinese censorship.

The company has come under criticism after reports it was considering re-entering China’s search engine market and would comply with its internet censorship and surveillance policies.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,162.04.

The projected lower bound is: 1,023.13.

The projected closing price is: 1,092.58.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 25 white candles and 25 black 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 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 96.1127. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 10 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 55.91. 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 34 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 166.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 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 4 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 6.130 at 1,094.430. Volume was 54% above average (neutral) and Bollinger Bands were 15% narrower than normal.

Open High Low Close Volume___
1,089.0701,095.5701,077.8801,094.430 2,580,612

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1,053.07 1,096.47 1,120.98
Volatility: 38 41 32
Volume: 1,846,247 1,919,794 1,692,182

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 2.4% 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 2 periods.

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