Alphabet Inc. (NASDAQ:GOOG) kicked off its annual I/O developer conference today

Alphabet Inc. (NASDAQ:GOOG) kicked off its annual I/O developer conference today

Alphabet Inc. (NASDAQ:GOOG) kicked off its annual I/O developer conference today

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google kicked off its annual I/O developer conference today, announcing all sorts of news around both hardware and software during the opening keynote. The search giant has enjoyed particular success in smart-home technology, including its popular line of smart speakers and the Home Hub that was introduced last year.

In line with rumors that Google was planning to rebrand its smart-home offerings, the company has just confirmed that it is indeed consolidating all of its smart-home efforts under the Nest brand.

The Nest brand is stronger

Google hardware chief Rick Osterloh announced the rebranding on stage:

Over the past year, we’ve brought the Nest and Google teams together to deliver on our vision of the helpful home. And today we’re further simplifying things, bringing all these products together under the Nest name. As a single team, and a single product family, we’re following a set of guiding principles that reflect our commitment to putting people first.

Osterloh is referring to the corporate reshuffling that took place in early 2018, when Nest was moved out of Alphabet’s Other Bets segment and back under the Google umbrella . It didn’t really make much sense to have two separate divisions working on similar products, and Nest already has a strong brand in smart-home products anyway.

The “helpful home” represents an evolution of Google’s smart-home strategy, hoping to make the devices more proactively helpful with Google Assistant.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,231.17.

The projected lower bound is: 1,119.62.

The projected closing price is: 1,175.39.

Candlesticks

A black body occurred (because prices closed lower 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 30 white candles and 20 black candles for a net of 10 white 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 40.3437. This is not an overbought or oversold reading. The last signal was a buy 1 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 41.57. 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 sell 5 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 -81. This is not a topping or bottoming area. The last signal was a buy 1 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 5 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -15.290 at 1,174.100. Volume was 4% above average (neutral) and Bollinger Bands were 48% wider than normal.

Open High Low Close Volume___
1,180.4701,190.4401,161.0401,174.100 1,551,368

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

Moving Averages: 10-period 50-period 200-period
Close: 1,214.73 1,194.89 1,139.50
Volatility: 51 29 34
Volume: 2,175,770 1,463,729 1,646,905

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 3.0% 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 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 3 periods.

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