Alphabet Inc. (NASDAQ:GOOG) executives declined invites to testify at a hearing on foreign meddling in the 2016 U.S. presidential election

Alphabet Inc. (NASDAQ:GOOG) executives declined invites to testify at a  hearing on foreign meddling in the 2016 U.S. presidential election

Alphabet Inc. (NASDAQ:GOOG) executives declined invites to testify at a hearing on foreign meddling in the 2016 U.S. presidential election

Sometimes an empty chair can speak volumes.

The Senate Select Committee on Intelligence intentionally set up an unoccupied seat to shame Google parent company Alphabet at Wednesday’s hearing on foreign meddling in the 2016 U.S. presidential election.

The committee wanted either Alphabet CEO Larry Page or Google Chief Executive Sundar Pichai to testify alongside Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg, but the company offered its top lawyer and senior vice president of global affairs, Kent Walker, instead. That decision rankled committee leaders Sen Mark Warner, D-Va., and Sen. Richard Burr, R-N.C., who rejected the substitution, hence the pointedly vacant chair.

“I’m disappointed Google decided against sending the right senior level executive,” Burr, the chair of the committee, said in his opening remarks.

Warner, vice chair of the committee, echoed Burr’s statement.

“I’m deeply disappointed that Google — one of the most influential digital platforms in the world – chose not to send its own top corporate leadership to engage this committee,” Warner said.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1,231.60.

The projected lower bound is: 1,143.83.

The projected closing price is: 1,187.71.

Candlesticks

A black body occurred (because prices closed lower 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 21 white candles and 29 black candles for a net of 8 black 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 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 18.3910. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 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 41.02. 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 27 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 -150.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 3 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 1 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -10.520 at 1,186.480. Volume was 42% above average (neutral) and Bollinger Bands were 26% narrower than normal.

Open High Low Close Volume___
1,193.8001,199.0101,162.0001,186.480 2,061,309

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

Moving Averages: 10-period 50-period 200-period
Close: 1,219.64 1,199.31 1,110.93
Volatility: 23 23 29
Volume: 1,363,663 1,398,216 1,633,784

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 6.8% above its 200-period moving average and is in an downward trend. Volatility is 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 9 periods.

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