Alphabet Inc. (NASDAQ:GOOG) European Union has launched a fresh antitrust investigation
Google is facing yet another antitrust investigation from the European Union after being slapped with three multibillion dollar fines in as many years.
Reuters reported Friday that it had seen a document showing the EU was investigating how Google uses data. The bloc’s competition watchdog sent questionnaires to companies asking exactly how Google bargains with its data, and whether it ever withholds it.
The EU confirmed it had launched an investigation on Saturday. “The Commission has sent out questionnaires as part of a preliminary investigation into Google’s practices relating to Google’s collection and use of data. The preliminary investigation is ongoing,” a spokesperson told Business Insider.
The European Commission appears to be scrutinizing a broad swathe of Google’s data. The document seen by Reuters showed it was looking into data relating to local search services, online advertising, online ad targeting services, login services, web browsers and more.
A Google spokesman didn’t answer when asked by Business Insider whether Google had already been aware of the investigation prior to the Reuters report.
“We use data to make our services more useful and to show relevant advertising, and we give people the controls to manage, delete or transfer their data. We will continue to engage with the Commission and others on this important discussion for our industry,” a spokesman said.
The European Commission has hit Google hard in recent years with three massive antitrust fines.
- In 2019 it fined Google $US1.7 billion for its search advertising platform.
- In 2018 it fined Google a record $US5 billion for abusing the dominance of its Android operating system.
- In 2017 it fined Google $US2.7 billion for practices related to its online shopping service.
Google is appealing all three fines, which total $US9.4 billion. The tech giant is also facing intense antitrust scrutiny on the home front, with 50 state attorneys general currently conducting an investigation into various facets of Google’s business.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1,330.26.
The projected lower bound is: 1,251.98.
The projected closing price is: 1,291.12.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 48.2687. This is not an overbought or oversold reading. The last signal was a buy 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 49.48. 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 sell 9 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 -131.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 8 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 sell 7 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -15.040 at 1,289.920. Volume was 11% above average (neutral) and Bollinger Bands were 54% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,306.40 1,262.25 1,189.09
Volatility: 12 20 29
Volume: 1,165,074 1,288,314 1,409,241
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 8.5% above its 200-period moving average and is in an upward trend. Volatility is low 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 32 periods.