Alphabet Inc. (NASDAQ:GOOG) rebranded its $100 billion advertising business
- Google’s new Google Ad program allows companies to reach customers wherever they are online, as people move away from browsing the web on desktop.
- It also expands its program so small businesses can use Google ads, allowing them to use the power of the internet to reach customers.
Google, which books more than $100 billion per year in advertising revenue, announced on Tuesday that it is streamlining multiple advertising technologies into three main products called Google Ads, Google Marketing Platform and Google Ad Manager.
While the change is mostly cosmetic, it’s a subtle acknowledgment that consumers are increasingly accessing the internet and viewing ads on a variety of devices, not just on their computers.
About 85 percent of Google’s total revenue comes from its technologies that place advertising on its properties and partner sites. It dominates online advertising alongside Facebook, with the two companies taking in 56.8 percent of all U.S. digital advertising spending, per eMarketer.
Despite this massive success, the company is eliminating the AdWords brand, which launched in 2000 as one of Google’s first advertising products, and the DoubleClick brand, which it acquired in 2007.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 1,106.06.
The projected upper bound is: 1,149.63.
The projected lower bound is: 1,059.52.
The projected closing price is: 1,104.58.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 8.1881. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 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 43.50. 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 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 -121.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 4 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 2 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -14.480 at 1,103.980. Volume was 27% below average (neutral) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,147.61 1,092.26 1,057.24
Volatility: 24 27 29
Volume: 1,572,010 1,628,200 1,624,322
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 4.4% above its 200-period moving average and is in an upward 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 bullish on GOOG.O and have had this outlook for the last 36 periods.
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