Alphabet Inc. (NASDAQ:GOOG) Launches Coronavirus Website in the U.S.
Alphabet Inc.‘s GOOGL Google is leaving no stone unturned to bolster initiatives to help the society in fighting the coronavirus pandemic.
This is evident from the company’s latest move of launching a website in the United States to bring in more awareness among people about the highly contagious virus.
The website offers information related to coronavirus symptoms, treatment and preventive remedies from the World Health Organization. It consists of resources and links that are solely focused on the potentially respiratory illness COVID-19.
Google strives to create more awareness about this pandemic situation with the launch of this website. With the latest effort, the company aims at reducing the risk of further spreading the virus in the United States.
We believe the latest effort of Google is a positive during this coronavirus-induced global crisis. This is likely to instill investor optimism in the stock.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 1,334.11.
The projected upper bound is: 1,176.76.
The projected lower bound is: 921.96.
The projected closing price is: 1,049.36.
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 28 white candles and 22 black candles for a net of 6 white 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).
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 34.8822. 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 32.89. 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 6 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 -105.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 2 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 21 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -15.700 at 1,056.620. Volume was 100% below average (consolidating) and Bollinger Bands were 201% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,137.56 1,379.47 1,265.47
Volatility: 115 65 40
Volume: 3,275,185 2,200,581 1,560,944
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 16.5% below 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 19 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.