Alphabet Inc. (NASDAQ:GOOG) finally admitted that a “Project Dragonfly” is indeed in the works
But that’s about all a Google executive was willing to divulge Wednesday about the codenamed plan, which has been widely reported to be a search product the company is developing for China — one that would need to comply with government censorship.
The rumored existence of the Chinese search engine came up repeatedly during a Senate committee hearing in Washington, where several major technology and telecommunications executives were testifying about a potential federal law to regulate data privacy.
The prospect of a Google-sanctioned search engine for China has become a hot-button issue. Reports began surfacing last month that Google was working on a product that would block sensitive websites and search terms in accordance with Chinese censorship.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1,221.90.
The projected lower bound is: 1,138.35.
The projected closing price is: 1,180.12.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.
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 70.8962. This is not an overbought or oversold reading. The last signal was a buy 11 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 47.93. 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 42 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 139.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 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 buy 4 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -4.160 at 1,180.490. Volume was 1% above average (neutral) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,172.77 1,207.43 1,121.81
Volatility: 19 22 29
Volume: 1,541,876 1,501,383 1,637,674
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 5.2% above its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 24 periods.