Alphabet Inc. (NASDAQ:GOOG) has asked the U.S. Supreme Court to reverse the billion-dollar copyright case brought by Oracle

Alphabet Inc. (NASDAQ:GOOG) has asked the U.S. Supreme Court to reverse the billion-dollar copyright case brought by Oracle

Alphabet Inc. (NASDAQ:GOOG) has asked the U.S. Supreme Court to reverse the billion-dollar copyright case brought by Oracle

Google (GOOG -0.2%)(GOOGL -0.1%) has asked the U.S. Supreme Court to reverse the billion-dollar copyright case brought by Oracle (ORCL -0.1%).

Google wants the court to say the company’s use of Oracle’s Java APIs to create the Android OS was allowed under U.S. copyright law.

The original case stretches back to 2010, and a jury cleared Google of violations in 2016. But an appeals court reversed that ruling early last year, setting the stage for a jury trial to determine monetary damages.

Google calls the appeals court decision a “devastating one-two punch at the software industry.”

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,139.09.

The projected lower bound is: 1,008.37.

The projected closing price is: 1,073.73.

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 22 white candles and 28 black candles for a net of 6 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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 33.5933. This is not an overbought or oversold reading. The last signal was a sell 2 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 53.27. 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 69 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 2. This is not a topping or bottoming area. 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 buy 17 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -1.670 at 1,073.900. Volume was 100% below average (consolidating) and Bollinger Bands were 27% narrower than normal.

Open High Low Close Volume___
1,076.4801,079.4751,060.7001,073.900 25

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

Moving Averages: 10-period 50-period 200-period
Close: 1,073.85 1,051.63 1,115.36
Volatility: 27 40 33
Volume: 1,269,556 1,791,186 1,658,298

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 3.7% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 12 periods.

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