Alphabet Inc. (NASDAQ:GOOG), Coinbase, and Twitter are all telling some employees to work from home this week amid the spread of coronavirus

Alphabet Inc. (NASDAQ:GOOG), Coinbase, and Twitter are all telling some employees to work from home this week amid the spread of coronavirus

Alphabet Inc. (NASDAQ:GOOG), Coinbase, and Twitter are all telling some employees to work from home this week amid the spread of coronavirus

  • Google has instructed its Dublin office to work from home on Tuesday as a “precautionary measure,” after one of its employees reported flu-like symptoms, a Google spokesperson told Business Insider.
  • The advertising giant isn’t the only tech company to test such a policy, as Silicon Valley begins to adapt its practices around the coronavirus outbreak.
  • So far, Twitter has recommended its 5,000 employees all begin working from home, while cryptocurrency exchange Coinbase has asked that its employees who consider themselves susceptible to the flu also work from home.

Most of Google’s 8,000-strong office in Dublin, Ireland – the tech giant’s European headquarters – have been told to work from home on Tuesday after a member of its staff reported flu-like symptoms. Other tech companies like Twitter and Coinbase are also following suit.

Google stressed that the day-long measure was precautionary, and in accordance with the advice of medical experts.

“We continue to take precautionary measures to protect the health and safety of our workforce, in accordance with the advice of medical experts, and as part of that effort we have asked our Dublin teams to work from home tomorrow,” a Google spokesperson told Business Insider.

COVID-19, the disease caused by coronavirus, has spread well outside its place of origin in Wuhan, China since its outbreak at the end of last year. The disease, which has infected around 88,000 people around the world, with the vast majority of cases in China, is now also disrupting businesses as multinational businesses reconsider their conferences, travel, and their employees’ daily commutes.

Google has been tightening up its policies after a Google employee tested positive for the coronavirus in Zurich last week. It has restricted its employee travel and cancelled Google Cloud’s biggest event of the year as concerns around the outbreak grow.

Other Silicon Valley tech companies have yet to ask its employees to work from home, but they have instituted other measures to lessen the likelihood of infection spreading. Facebook is asking its employees to stop bringing guests to work, and a Gizmodo report says Amazon is putting on-site job interviews on hold.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,460.41.

The projected lower bound is: 1,319.17.

The projected closing price is: 1,389.79.

Candlesticks

A white body occurred (because prices closed higher 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 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 35.3960. This is not an overbought or oversold reading. The last signal was a buy 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 42.05. 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 1 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 -83. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 6 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 49.780 at 1,389.110. Volume was 59% above average (neutral) and Bollinger Bands were 138% wider than normal.

Open     High      Low     Close     Volume___
1,351.6101,390.8701,326.8151,389.110 2,431,468
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,429.94 1,430.26 1,259.30
Volatility: 50 32 29
Volume: 2,164,899 1,692,795 1,461,066

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 10.3% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOOG.O and have had this outlook for the last 4 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.