Alphabet Inc. (NASDAQ:GOOG) Experts Consider It a ‘Sell’

Alphabet Inc. (NASDAQ:GOOG) Experts Consider It a ‘Sell’

Alphabet Inc. (NASDAQ:GOOG) Experts Consider It a ‘Sell’

Amazon (NASDAQ:AMZN) had brick-and-mortar retailers quaking in their boots about its disruptive takeover of retail. Many segments are worried. Advertising is next in Amazon’s cross-hairs. Amazon’s ad business is fairly new but growing fast, accelerating to triple-digit growth rates. Meanwhile, Facebook’s (NASDAQ:FB) and Google’s (NASDAQ:GOOG)(NASDAQ:GOOGL) growth rates have been slowing. Is Amazon already making a dent in the ad business?

That 120-130% growth compares to Facebook’s revenue growth of 32% last quarter and Google’s growth of 21.5%. It was Google’s slowest quarter since Q2’17 and Facebook’s slowest since I can remember.

You see Amazon’s quarterly run-rate is now up to $2.5B which is much smaller than Facebook at $13B and Google at $33B.

At a 123% growth rate though, that $2.5B quarter will be $5.5B next year quarterly. That size becomes more meaningful as a competitor to Facebook and Google which, until now, didn’t have much online competition.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 1,127.55.

The projected lower bound is: 997.60.

The projected closing price is: 1,062.58.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black 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 30.0193. 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 46.74. 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 24 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 0. This is not a topping or bottoming area. The last signal was a buy 7 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 7 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 21.050 at 1,064.710. Volume was 10% above average (neutral) and Bollinger Bands were 14% narrower than normal.

Open High Low Close Volume___
1,044.7101,071.8501,031.7801,064.710 1,836,084

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

Moving Averages: 10-period 50-period 200-period
Close: 1,057.87 1,119.72 1,121.32
Volatility: 35 38 34
Volume: 1,679,112 1,797,033 1,737,672

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 5.0% 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 28 periods.

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