Alphabet Inc. (NASDAQ:GOOG) faced a new data privacy outcry on Monday

Alphabet Inc. (NASDAQ:GOOG) faced a new data privacy outcry on Monday

Alphabet Inc. (NASDAQ:GOOG) faced a new data privacy outcry on Monday

Alphabet’s Google (GOOGL) faced a new data privacy outcry on Monday as the internet giant said it will shut down its Google+ social network for consumers following the disclosure of a software glitch that exposed user’s personal data to software developers. The disclosure sent Google stock down.

Google stock slid 1% to close at 1,155.92 on the stock market today. Shares in Google had traded down as much as 2.1% after the Wall Street Journal reported that a software glitch had disclosed the data of as many as half a million users.

The Google+ social network has failed to develop as a serious rival to Facebook (FB). Facebook stock was down a fraction to 157.25 on Monday. Facebook and Google are facing more lawmaker scrutiny over consumer privacy issues.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,184.38.

The projected lower bound is: 1,109.98.

The projected closing price is: 1,147.18.

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 20 white candles and 30 black candles for a net of 10 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 23.0156. This is not an overbought or oversold reading. The last signal was a sell 5 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 37.57. 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 50 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 -162.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 2 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 0 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -8.380 at 1,148.970. Volume was 32% above average (neutral) and Bollinger Bands were 40% narrower than normal.

Open High Low Close Volume___
1,150.1101,168.0001,127.3641,148.970 1,932,355

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

Moving Averages: 10-period 50-period 200-period
Close: 1,182.61 1,200.81 1,126.87
Volatility: 21 20 29
Volume: 1,470,940 1,416,125 1,635,262

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 2.0% 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 0 periods.

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