Alphabet Inc. (NASDAQ:GOOG) In U.S. Lawsuit For Collecting Users’ ‘Private’ Data
Alphabet Inc’s Google (GOOGL) is being sued in a proposed class-action suit for allegedly invading the privacy of millions of users by tracking their internet use through browsers set in “private” mode.
According to a report, the lawsuit seeks at least $5 billion, accusing the internet search giant of collecting information concerning what users search online and where they browse, despite using what Google calls incognito mode.
The complaint filed in the federal court in San Jose, California, asserts that Google collects data through Google Analytics, Google Ad Manager and other applications and website plug-ins, together with smartphone apps, regardless of whether or not users click on Google-supported ads.
As a result, Google learns about users’ friends, hobbies, favorite foods, shopping habits, and even the “most intimate and potentially embarrassing things” they search for online, the complaint said.
In response Jose Castaneda, a Google spokesman, said that the California-based company will defend itself vigorously against the claims.
“As we tend to clearly state whenever you open a new concealed tab, websites may be able to collect data concerning your browsing activity,” he said.
According to the complaint the proposed class probably includes “millions” of Google users who since June1, 2016 browsed the internet in “private” mode. It seeks at least $5,000 of damages per user for violations of federal wiretapping and California privacy laws.
Shares in Google have surged 37% since March 23 erasing all of their losses suffered earlier this year. The stock rose less than 1% to $1,439.22 as of Tuesday’s close.
In view of the recent rally, the stock’s upside potential is currently expected to be more limited. the analyst price target of $1,523.87 indicates shares may advance a mere 5.65% in the coming twelve months.
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 1,348.13.
The projected upper bound is: 1,543.88.
The projected lower bound is: 1,349.23.
The projected closing price is: 1,446.56.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 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 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 84.6412. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 67.56. 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 55 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 96. This is not a topping or bottoming area. The last signal was a sell 0 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 sell 1 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 7.400 at 1,439.220. Volume was 100% below average (consolidating) and Bollinger Bands were 52% narrower than normal.
Open High Low Close Volume 1,430.550 1,439.610 1,418.830 1,439.220 816
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 1,414.50 1,285.72 1,302.68 Volatility: 15 52 45 Volume: 1,412,740 2,055,201 1,714,891
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 10.5% 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 36 periods.
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