Alphabet Inc. (NASDAQ:GOOG) Regulatory risk is rising

Alphabet Inc. (NASDAQ:GOOG) Regulatory risk is rising

Alphabet Inc. (NASDAQ:GOOG) Regulatory risk is rising

Of course, many would argue that the push to crack down on tech is an example of punishing success. Big doesn’t have to be bad. And these tech giants were built on American ingenuity.Nonetheless, Wall Street is starting to grow worried about a looming tech crackdown. Facebook,mired in countless scandals, has watched its stock decline 24% since peaking in July.What happens next to Big Tech has broad implications. These companies have enormous sway over the stock market. Millions of Americans own them in their 401(k) plans and mutual funds. Smead, recalling the bursting of the dot-com bubble, is warning his clients to cash in their tech winnings before the backlash arrives.”Parabolic manias go until they don’t,” Smead said. “When the mania goes, they get crushed. They don’t just go down.”

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 1,140.69.

The projected upper bound is: 1,253.86.

The projected lower bound is: 1,162.37.

The projected closing price is: 1,208.12.

Candlesticks

A black body occurred (because prices closed lower 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 27 white candles and 23 black candles for a net of 4 white candles.

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 81.2503. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 64.23. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 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 94. This is not a topping or bottoming area. The last signal was a sell 0 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 15 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -26.040 at 1,205.500. Volume was 2% above average (neutral) and Bollinger Bands were 45% wider than normal.

Open High Low Close Volume___
1,226.3201,230.0001,202.8251,205.500 1,714,247

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,197.64 1,124.14 1,129.81
Volatility: 26 26 32
Volume: 1,676,041 1,476,272 1,627,336

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 6.7% above its 200-period moving average and is in an upward 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 bullish on GOOG.O and have had this outlook for the last 14 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH