Alphabet Inc. (NASDAQ:GOOG) marks its 20th birthday this week

Alphabet Inc. (NASDAQ:GOOG) marks its 20th birthday this week

Alphabet Inc. (NASDAQ:GOOG) marks its 20th birthday this week

It has revolutionised the internet and changed the way billions live, communicate and search for information. But when Google marks its 20th birthday this week it will be a strangely muted affair.

Despite an $US800 billion ($1.1 trillion) valuation and a product used every day by more than half the world’s connected population, the Silicon Valley giant finds itself under attack from all sides.

Amid soaring profits, Google has been struggling with an internal war over employee diversity. It has withdrawn from a contract to build AI for the military after an employee revolt and is dealing with a backlash over an alleged plan to move into China, which would mean acquiescing to Beijing’s surveillance requests.

A company which quietly shelved its “don’t be evil” motto earlier this year now owns a video site, YouTube, which has been accused of harbouring and encouraging terrorism, violence and cyber-bullying while Donald Trump has launched an attack on the tech giant, threatening repercussions for claimed anti-Republican bias.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,207.69.

The projected lower bound is: 1,123.80.

The projected closing price is: 1,165.74.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with ALPHABET INC C), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.

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 61.6915. This is not an overbought or oversold reading. The last signal was a buy 8 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 42.85. 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 39 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 17. This is not a topping or bottoming area. The last signal was a buy 8 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 1 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -20.780 at 1,166.090. Volume was 205% above average (trending) and Bollinger Bands were 14% wider than normal.

Open High Low Close Volume___
1,192.0001,192.2101,166.0401,166.090 4,405,584

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

Moving Averages: 10-period 50-period 200-period
Close: 1,169.40 1,208.09 1,119.55
Volatility: 21 22 29
Volume: 1,532,859 1,504,924 1,639,224

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 4.2% above its 200-period moving average and is in an downward trend. Volatility is 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 21 periods.

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