Alphabet Inc. (NASDAQ:GOOG) claimed it created an AI agent that could “correctly distinguish a slide with metastatic cancer from a slide without cancer 99% of the time
Major breakthroughs are now possible with less data than ever thanks to artificial intelligence, Alphabet Chief Financial Officer Ruth Porat said during a panel at the World Economic Forum in Davos, Switzerland Tuesday.
Artificial intelligence “learns” patterns by ingesting typically large amounts of data and then using that information to complete a task, like sorting data into different buckets. Porat said less data is required than before to see impactful results from AI, citing a recent example of medical breakthrough aided by Alphabet technology.
Google, which is owned by Alphabet, claimed in an October blog post it had created an AI that could “correctly distinguish a slide with metastatic cancer from a slide without cancer 99% of the time.” Google said the breakthrough could indicate that AI could play a role in repetitive diagnostic procedures, freeing up time for doctors to focus on more difficult tasks.
“We needed only hundreds of biopsies from breast cancer patients — hundreds — in order to have a breakthrough in metastatic breast cancer because of the developments in AI,” Porat said.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1,138.21.
The projected lower bound is: 1,003.42.
The projected closing price is: 1,070.81.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 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 71.8801. This is not an overbought or oversold reading. The last signal was a sell 0 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 52.58. 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 67 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 44. This is not a topping or bottoming area. The last signal was a sell 0 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 buy 15 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -27.740 at 1,070.520. Volume was 13% below average (neutral) and Bollinger Bands were 14% wider than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,073.99 1,052.15 1,114.72
Volatility: 28 41 33
Volume: 1,469,312 1,842,777 1,670,953
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 4.0% 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 10 periods.
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