Alphabet Inc. (NASDAQ:GOOG) has created a fund to enable all its contract and temporary workers globally to take paid sick leave if they have potential COVID-19 symptoms or are in quarantine

Alphabet Inc. (NASDAQ:GOOG) has created a fund to enable all its contract and temporary workers globally to take paid sick leave if they have potential COVID-19 symptoms or are in quarantine

Alphabet Inc. (NASDAQ:GOOG) has created a fund to enable all its contract and temporary workers globally to take paid sick leave if they have potential COVID-19 symptoms or are in quarantine

Google has set up a fund that will enable all contract and temporary workers globally to take paid sick leave should they need to due potential coronavirus symptoms or quarantines, the company announced in a blog post Tuesday.

“As we’re in a transition period in the U.S.-and to cover any gaps elsewhere in the world-Google is establishing a COVID-19 fund that will enable all our temporary staff and vendors, globally, to take paid sick leave if they have potential symptoms of COVID-19, or can’t come into work because they’re quarantined,” the post read.

Google relies on approximately 120,000 temps and contractors on top of its 100,000 full-time employees, and not all of them have paid sick leave currently. Google’s post seemed to indicate that the fund would cover expenses for those not already able to take sick leave under current employment arrangements.

Following Microsoft’s lead, Google announced last week that it would continue to pay hourly staff whose hours may be affected by remote work policies. Google said its new fund will also go towards covering that commitment.

Earlier Tuesday, Google told employees based in its North America offices – more than 100,000 employees and the bulk of its workforce – to work remotely due to concerns over the coronavirus outbreak. The company had previously instructed employees at its offices in the San Francisco Bay Area, Seattle, and Dublin, and to avoid coming into the office as the virus continues to spread worldwide.

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 1,371.34.

The projected lower bound is: 1,186.24.

The projected closing price is: 1,278.79.

Candlesticks

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 29 white candles and 21 black candles for a net of 8 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 24.3560. This is not an overbought or oversold reading. The last signal was a buy 6 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 38.09. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -112.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 6 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 12 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 64.830 at 1,280.390. Volume was 63% above average (neutral) and Bollinger Bands were 218% wider than normal.

Open     High      Low     Close     Volume___
1,260.0001,281.1501,218.7701,280.390 2,611,373
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,328.10 1,424.87 1,263.90
Volatility: 77 43 32
Volume: 2,691,872 1,836,229 1,501,799

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 1.3% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume out of GOOG.O (mildly bearish). Our trend forecasting oscillators are currently bearish on GOOG.O and have had this outlook for the last 10 periods.

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