Alphabet Inc. (NASDAQ:GOOG) Really Is Developing a Coronavirus Website
Alphabet‘s (NASDAQ: GOOG)(NASDAQ: GOOGL) Google is developing a website dedicated to the coronavirus after all.
Following a press conference by President Trump on the COVID-19 outbreak, in which he touted Google’s plans to design a site where people could visit to have questions answered and be directed to testing centers, there was some confusion when the media said it was actually a life-sciences sister site, Verily, that was developing it.
However, Saturday night, Google confirmed it was, in fact, creating such a site. In a series of tweets, Google announced it “is partnering with the U.S. government in developing a nationwide website that includes information about COVID-19 symptoms, risk, and testing information.”
A central repository of information
As the coronavirus has spread, there has been increased pressure on the federal government to come up with a comprehensive response.
Google’s latest announcement says the site is in addition to what Verily is doing, which is much more limited, in that only people in the San Francisco Bay area would be able to do risk assessments and get scheduled for testing.
Google clarified it was taking the following measures:
- Promoting on its homepage greater awareness of simple measures citizens can take to prevent the spread of the disease.
- Promoting authoritative information through Google Search and YouTube.
- Taking measures to protect users from misinformation, including phishing, conspiracy theories, and malware.
- Rolling out free global access to its advanced Hangouts Meet video-conferencing capabilities to its G Suite and G Suite for Education customers until July 1.
- Financially supporting global relief efforts.
Google said it was “fully aligned and continue to work with the U.S. government to contain the spread of COVID-19, inform citizens, and protect” the public’s health.
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 1,376.80.
The projected upper bound is: 1,331.57.
The projected lower bound is: 1,103.20.
The projected closing price is: 1,217.38.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
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 24.3273. This is not an overbought or oversold reading. The last signal was a buy 0 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 39.33. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -112.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 9 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 15 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 104.820 at 1,219.730. Volume was 122% above average (neutral) and Bollinger Bands were 249% 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: 1,278.05 1,415.37 1,264.73
Volatility: 106 56 37
Volume: 2,848,387 1,985,941 1,534,411
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 3.6% 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 13 periods.
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