Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai will give evidence to the House Judiciary Committee

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai will give evidence to the House Judiciary Committee

Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai will give evidence to the House Judiciary Committee

Google CEO Sundar Pichai is going to face Congress for the first time next week, according to The Washington Post.

Pichai will be grilled by the House Judiciary Committee on 5 December, during which he will face questions from Republicans who have unproven beliefs that Google has a liberal bias.

Citing three sources, the Post said the hearing promises to be a “long, wide-ranging review of Google’s business practices at a perilous political moment for the tech giant.”

As well as accusations of Google’s search engine punishing Conservative results, Pichai could also be asked about the firm’s plans to return to China. On Tuesday, Google engineers asked management to shut down the project, while Amnesty International is planning global protests over the plans.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,154.65.

The projected lower bound is: 1,014.81.

The projected closing price is: 1,084.73.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
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 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 86.3973. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 8 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 54.35. 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 32 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 109.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 4 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 2 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 41.820 at 1,086.230. Volume was 46% above average (neutral) and Bollinger Bands were 25% narrower than normal.

Open High Low Close Volume___
1,048.7601,086.8401,035.7601,086.230 2,475,419

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

Moving Averages: 10-period 50-period 200-period
Close: 1,045.64 1,099.98 1,120.86
Volatility: 40 41 32
Volume: 1,781,503 1,887,140 1,688,931

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 3.1% 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 0 periods.

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