Alphabet Inc. (NASDAQ:GOOG) Data Shines Light on Whether Coronavirus Lockdowns Worldwide Are Working

Alphabet Inc. (NASDAQ:GOOG) Data Shines Light on Whether Coronavirus Lockdowns Worldwide Are Working

Alphabet Inc. (NASDAQ:GOOG) Data Shines Light on Whether Coronavirus Lockdowns Worldwide Are Working

Alphabet Inc’s Google has published charts showing how the coronavirus has brought hard-hit Italy to a standstill, led to runs on grocery stores around the world and prompted a stark drop in going-out between Mardi Gras and St. Patrick’s Day.

The analysis of location data from billions of Google users’ phones is the largest public dataset available to help health authorities assess if people are abiding with shelter-in-place and similar orders issued across the world to rein in the virus.

The company released reports for 131 countries with charts that compare traffic from Feb. 16 to March 29 to retail and recreational venues, train and bus stations, grocery stores and workplaces with a five-week period earlier this year.

Google said it published the reports to avoid any confusion about what it was providing to authorities, given the global debate that has emerged about balancing privacy-invasive location tracking with the need to prevent further outbreaks.

The data often correlated with the severity of outbreaks and the harshness and breadth of orders imposed by governments.

Italy and Spain, two of the hardest-hit countries, both saw visits to retail and recreation locations such as restaurants and movie theaters plunge 94%. The United Kingdom, France and Philippines had declines of more than 80% while India, which went into a sudden 21-day lockdown on March 25, was also notable at 77%.

In the United States, where state responses have varied greatly, and in Australia, where good weather initially prompted many people to go the beach before social distancing measures were ratcheted up, the drops were less steep at under 50%.

In contrast, in Japan and Sweden, where authorities have not imposed harsh restrictions, visits to retail and recreation sites fell by roughly only a quarter. While in South Korea, which has successfully contained a large outbreak through aggressive testing and contact tracing, the decline was just 19%.

The data also underscore some challenges authorities have faced in keeping people apart. Grocery store visits surged in Singapore, the United Kingdom and elsewhere as travel restrictions were set to go into place. Visits to parks spiked in March in some San Francisco Bay Area counties under lockdown in California, forcing them to later put the sites off limits.

The data also underscores how the mood of people around the world has shifted. In New Orleans, during its annual Mardi Gras celebrations Feb.16-25, which has with hindsight been criticized for helping spread the virus, there were off-the-chart increases in traffic to transit stations, parks and businesses.

But three weeks later in Dublin, heart of St. Patrick’s holiday celebrations, traffic was down at retail and recreational venues as the country ordered big events canceled.

Within countries, there were wide gaps in behavior by region. California, which was the first in the U.S. with a statewide lockdown, cut visits to retail and recreation locations by half. In New York state, the slide in such visits was gradual as officials waited to impose strict curbs but they eventually fell 62%. By contrast, Arkansas, one of the few states without a sweeping lockdown, had the smallest decline at 29%.

The coronavirus has infected more than 1 million people globally, and COVID-19, the respiratory illness it causes, has killed 52,000, according to a Reuters tally.

There were no reports for China and Iran, where Google services are blocked.

BALANCING PRIVACY

Data in Google’s reports come from users who enabled Google’s “Location History” feature on their devices. The company said it adopted technical measures to ensure that no individual could be identified through the new reports.

“These reports have been developed to be helpful while adhering to our stringent privacy protocols and policies,” Dr. Karen DeSalvo, chief health officer for Google Health and Jen Fitzpatrick, senior vice president for Google Geo, wrote in a blog post.

China, Singapore, South Korea and other countries have asked residents to use apps and other technology to track their compliance with quarantines, but privacy activists argue such measures can compromise individual liberties.

Infectious disease specialists have said analyzing travel across groups by age, income and other demographics could help shape public service announcements.

Google, which infers demographics from users’ internet use as well as some data given when signing up to Google services, said it was not reporting demographic information. The company said, though, it was open to including additional information and countries in follow-up reports.

Google said consultations with officials in the U.S. and the World Health Organization helped inform the data shared.

The company declined to comment on whether it has received any legal requests to share more detailed data to help with efforts to tackle the pandemic.

Facebook Inc, which like Google has billions of users, has shared location data with non-governmental researchers that are producing similar reports for authorities in several countries. But the social media giant has not published any findings.

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 1,322.47.

The projected upper bound is: 1,252.37.

The projected lower bound is: 974.71.

The projected closing price is: 1,113.54.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 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 45.3338. This is not an overbought or oversold reading. The last signal was a sell 4 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 42.98. 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 14 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 14. This is not a topping or bottoming area. The last signal was a sell 1 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 5 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 15.220 at 1,120.840. Volume was 1% below average (neutral) and Bollinger Bands were 42% wider than normal.

Open     High      Low     Close     Volume___
1,098.2601,126.8601,096.4001,120.840 1,964,881
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 1,117.44 1,327.56 1,267.33
Volatility: 77 73 43
Volume: 3,122,521 2,482,291 1,647,736

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 11.6% below its 200-period moving average and is in an downward 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 bearish on GOOG.O and have had this outlook for the last 27 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.

Latest posts by HEFFX Australia (see all)