Alphabet Inc. (NASDAQ:GOOG) First Drone Delivery Seen This Year
Drone delivery is a step closer to reality after Wing, a unit of Google parent Alphabet (GOOGL), received government approval as an airline.
Wing Aviation has been given the same certifications smaller airlines receive from the U.S. Federal Aviation Administration and the Department of Transportation, according to Bloomberg. The firm said it wants to begin routine drone delivery of small consumer items within months.
“Air Carrier Certification means that we can begin a commercial service delivering goods from local businesses to homes in the United States,” Wing said in a blog post.
The firm said goods like medicine and food will be able to be delivered faster by drone, and that drone delivery will give greater autonomy to those who need assistance with mobility.
Wing also said its all-electric drones could help reduce traffic on roads, as well as pollution and carbon emissions. Drone delivery has long been a touted use case for the technology.
First Drone Delivery Seen This Year
Wing claims it has flown more than 70,000 test flights and made over 3,000 deliveries to customers in Australia. It is now aiming to expand its participation in the Unmanned Aircraft System Integration Pilot Program in southwest Virginia.
“We’ll be reaching out to businesses and community members in the Blacksburg and Christiansburg areas to demonstrate our technology, answer questions, and solicit feedback with the goal of launching a delivery trial later this year,” the firm said.
Wing’s drone is a hybrid between a helicopter and an airplane. It can lift off vertically and fly horizontally at high speeds, and store packages in its belly. They are lowered by tether while the machine itself hovers a safe distance overhead.
This is the first time a drone company has been approved under regulations designed to ensure safety at traditional charter airlines or smaller air-cargo haulers. To qualify as an airline, Wing had to create extensive manuals, training routines and a safety hierarchy. Companies that receive permission must also be majority owned by U.S. citizens.
The move was hailed by U.S. Secretary of Transportation Elaine Chao, who has championed the technology.
“This is an important step forward for the safe testing and integration of drones into our economy,” she said in a news release. “Safety continues to be our Number One priority as this technology continues to develop and realize its full potential.”
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 1,176.30.
The projected upper bound is: 1,302.38.
The projected lower bound is: 1,233.50.
The projected closing price is: 1,267.94.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white 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 91.5845. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 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 75.50. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 21 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 182.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 15 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 up 15.710 at 1,264.550. Volume was 12% below average (neutral) and Bollinger Bands were 2% wider than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,225.62 1,174.37 1,137.46
Volatility: 10 19 32
Volume: 996,987 1,271,264 1,596,285
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 11.2% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into GOOG.O (mildly bullish). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 35 periods. Our momentum oscillator is currently indicating that GOOG.O is currently in an overbought condition.
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