Alphabet Inc. (NASDAQ:GOOG) prepares to dominate CES once again

Alphabet Inc. (NASDAQ:GOOG) prepares to dominate CES once again

Alphabet Inc. (NASDAQ:GOOG) prepares to dominate CES once again

Alphabet Inc.’s Google, already the king of advertising, is ramping up its efforts to be the king of your home as well.

The company announced Monday that it expects its Google Assistant to be built in to a billion devices by the end of January, including Android phones and tablets. In contrast, Amazon.com Inc. AMZN, +3.44% said Friday that it has sold more than 100 million Alexa devices, though the company doesn’t benefit from a massive presence in phones.

Google’s GOOG, -0.22% GOOGL, -0.20%   announcement coincides with the start of CES, the annual tech confab taking place in Las Vegas this week. The event has increasingly become Google’s show, and this year the company will take up three times more space than it did a year ago, when it already boasted a big presence outside the main convention center.

Amazon didn’t immediately respond to a MarketWatch request for comment about the size of its CES presence or comparisons to its presence at last year’s show.

Alphabet’s stock has lost 8.0% over the past three months while Amazon shares have shed 15% and the S&P 500 index SPX, +0.70% has lost 13%.

Part of Google’s plans for this year’s CES involve a ride that mimics “It’s a Small World,” in which attendees will get a glimpse at the various ways the Assistant can be used in everyday life.

Google will be highlighting a number of these through announcements with partners at the show. Whirlpool Corp. has previewed a KitchenAid smart display that controls your smart devices while using guided recipes.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,145.35.

The projected lower bound is: 990.01.

The projected closing price is: 1,067.68.

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 23 white candles and 27 black candles for a net of 4 black 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 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 73.5907. This is not an overbought or oversold reading. The last signal was a sell 2 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 55.20. 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 57 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 165.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 7 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 5 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -2.320 at 1,068.390. Volume was 6% above average (neutral) and Bollinger Bands were 7% narrower than normal.

Open High Low Close Volume___
1,071.5001,074.0001,054.7601,068.390 1,981,874

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

Moving Averages: 10-period 50-period 200-period
Close: 1,031.28 1,048.84 1,112.21
Volatility: 55 47 34
Volume: 2,102,620 2,055,610 1,724,905

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 3.9% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 0 periods.

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