Alphabet Inc. (NASDAQ:GOOG) has ‘a chance’ to make a comeback in China
One of the first investors in China’s biggest search engine said Tuesday that Google has “a chance” of making it in China.
Speaking at the CNBC East Tech West conference in the Nansha district of Guangzhou, China, the managing partner of venture capital firm GGV, Jixun Foo, said the U.S. search engine may have to adjust to local demands in China to become a success.
“There is always a chance (of a return) … The market is big enough but there is a regulatory factor that Google has to adjust itself to, or any foreign companies have to adjust itself to. There is also the fact that you have to localize your service,” he told CNBC’s Deirdre Bosa.
Jixun Foo’s first investment as a venture capitalist was in Baidu, China’s biggest search engine and a potential rival to Google should the U.S. tech giant return to the Chinese market. He is adamant that Google could successfully make a comeback in China, eight years after it pulled out of China, by following Baidu’s own localized strategy.
The venture capitalist never thought Baidu would be as big as it has become since its launch almost two decades ago.
“When I invested in Baidu in 2000, I wasn’t sure where Google was. I thought it was B2B (business-to-business) services. I said information services had demand and that search has value. That is the underlying thesis.”
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 1,109.67.
The projected lower bound is: 974.69.
The projected closing price is: 1,042.18.
A white body occurred (because prices closed higher 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 25 white candles and 25 black candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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.
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 65.3033. This is not an overbought or oversold reading. The last signal was a buy 7 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 45.79. 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 31 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 -9. This is not a topping or bottoming area. The last signal was a buy 3 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 1 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -4.210 at 1,044.410. Volume was 6% above average (neutral) and Bollinger Bands were 29% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,040.62 1,101.48 1,120.69
Volatility: 33 40 32
Volume: 1,685,331 1,861,706 1,682,879
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 6.8% below its 200-period moving average and is in an downward 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 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 35 periods.