Alphabet Inc. (NASDAQ:GOOG) has asked the Supreme Court to take up what would likely be the final appeal on the case

Alphabet Inc. (NASDAQ:GOOG) has asked the Supreme Court to take up what would likely be the final appeal on the case

Alphabet Inc. (NASDAQ:GOOG) has asked the Supreme Court to take up what would likely be the final appeal on the case

The Supreme Court has received an outpouring of amicus briefs from the tech industry and law professors imploring the highest court in the land to hear Oracle’s long-running case against Google – and rule in favour of Google.

Those asking the high court to take the case include Mozilla, Microsoft, the Python Software Foundation, Red Hat, the Electronic Frontier Foundation and a list of 65 IP scholars,among others.

This involves the endless suit over the use of Java application programming interfaces (APIs) in Google’s Android operating system. APIs allow software programs to talk to each other and share data or information. Nine years ago, Oracle sued Google, claiming it uses APIs taken from Java in violation of copyright law. Java is owned by Oracle.

Oracle first lost the case, but then won on appeal, and the Supreme Court declined to hear the case. Instead, the high court sent the case back to lower courts to hear Google’s second argument, which is that Java’s APIs fell under the Fair Use doctrine of copyright law. Again, Oracle lost the first case, and then again won on appeal.

And now Google has asked the Supreme Court to take up what would likely be the final appeal on the case.

So the industry has piled in asking the Supreme Court “to clean up the Oracle v. Google mess,” as the EFF puts it.

The EFF and others who filed briefs believe the computer industry is harmed when APIs cannot be freely copied, making it easier for programmers to get software to work together. Google’s supporters in this case argue that if APIs must be licensed, it will dramatically increase costs for programmers, and possibly lead to an uptick in nuisance lawsuits. Some of these briefs are making other arguments for overturning the appeals ruling, as well.

Oracle believes these arguments are without merit. It still hopes to keep its win and force Google to pay it billions in damages for the use of Java.

At one point, Oracle demanded $US8.8 billion from Google in damages. The lower court has not yet ruled on what amount, if any, Google would be commanded to pay should Google’s loss become permanent.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 1,173.63.

The projected lower bound is: 1,058.69.

The projected closing price is: 1,116.16.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 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 56.8116. This is not an overbought or oversold reading. The last signal was a buy 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 55.01. 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 91 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 4. This is not a topping or bottoming area. The last signal was a sell 12 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 10 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 5.730 at 1,115.130. Volume was 19% below average (neutral) and Bollinger Bands were 37% narrower than normal.

Open High Low Close Volume___
1,105.7501,119.5101,099.9201,115.130 1,471,743

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

Moving Averages: 10-period 50-period 200-period
Close: 1,114.11 1,074.91 1,122.27
Volatility: 19 35 32
Volume: 1,254,102 1,669,236 1,623,573

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 0.6% below its 200-period moving average and is in an downward trend. Volatility is low 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 1 periods.

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