Alphabet Inc. (NASDAQ:GOOG) expanding footprint in the online payment industry on the back of partnerships

Alphabet Inc. (NASDAQ:GOOG) expanding footprint in the online payment industry on the back of partnerships

Alphabet Inc. (NASDAQ:GOOG) expanding footprint in the online payment industry on the back of partnerships

Alphabet’s division, Google is expanding footprint in the online payment industry on the back of partnerships, which is evident from its latest move.

The company teamed up with eBay to offer the online payment app called Google Pay as one of the payment options on eBay’s online shopping app.

From early April, customers of eBay will be able to use Google Pay to make payment for the purchased products.

This deal seems to be a win-win situation for these companies. Google Pay is likely to expand eBay’s online payment options, which will help it provide better shopping experience.

Further, this latest deal is likely to boost the adoption rate of Google Pay as eBay’s online shopping platform has a huge customer base.

Intensifying Competition

The latest deal is likely to strengthen Google’s position against the likes of Apple, Amazon and PayPal.

Last year, eBay collaborated with Apple to make Apple Pay available to eBay’s customers as a payment option on its shopping app. Hence, Google Pay on eBay intensifies the competition for Apple.

Further, Google is likely to give a tough competition to the e-commerce giant’s initiatives to boost the user base of Amazon Pay. Notably, Amazon is offering customer-friendly offers on its payment app via its online shopping platform.

Moreover, integration of Google Pay and Apple Pay into eBay’s shopping platform is making eBay less dependent on PayPal. This does not bode well for PayPal’s market position.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 1,140.70.

The projected upper bound is: 1,241.55.

The projected lower bound is: 1,149.35.

The projected closing price is: 1,195.45.

Candlesticks

A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 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 57.7583. 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 59.40. 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 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 34. 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 16 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -12.500 at 1,193.000. Volume was 11% below average (neutral) and Bollinger Bands were 36% wider than normal.

Open High Low Close Volume___
1,196.9301,206.3971,187.0401,193.000 1,496,843

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,199.36 1,126.59 1,130.09
Volatility: 23 26 32
Volume: 1,653,807 1,477,081 1,626,329

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 5.6% above its 200-period moving average and is in an upward 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 bullish on GOOG.O and have had this outlook for the last 15 periods.

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