Alphabet Inc. (NASDAQ:GOOG) shares rise by 2.7 percent hitting a record high despite antitrust investigations as new CEO of parent company Alphabet makes his mark following a $240 MILLION bonus

Alphabet Inc. (NASDAQ:GOOG) shares rise by 2.7 percent hitting a record high despite antitrust investigations as new CEO of parent company Alphabet makes his mark following a $240 MILLION bonus

Alphabet Inc. (NASDAQ:GOOG) shares rise by 2.7 percent hitting a record high despite antitrust investigations as new CEO of parent company Alphabet makes his mark following a $240 MILLION bonus

Shares of Google’s parent company hit a record high on Monday despite facing pressure over antitrust investigations.

Tech giant Alphabet reached $1,397.81 per share, a rise of 2.7 per cent. 

It comes just a month after Google co-founders Larry Page and Sergey Brin stepped down as leaders and new Alphabet CEO, Sundar Pichai, was handed a $240 million bonus.  

Trusted lieutenant Pichai, who has spent 15 years at Google, is now the public face of a company that is facing criticism from U.S. lawmakers as well as its employees over a number of issues ranging from privacy to monopoly. 

Pichai will receive a hefty $240million in performance-based stock awards over the next three years, the highest ever promised to any executive of the search giant.

He will also take home $2million in annual salary starting 2020, according to a regulatory filing. 

Google has been facing pressure from privacy advocates over its collection and use of personal information to target advertising. It also faces allegations that it abuses its dominance in search and online advertising to push out rivals.

Google is the subject of antitrust inquiries from Congress, the Department of Justice and a contingency of states in the U.S. and from European authorities.

The company has also faced harsh criticism about the material on its services. Its video streaming business, YouTube, was fined $170 million to settle allegations it improperly collected personal data on children without their parents’ consent.

Alphabet — an umbrella corporation that the two created in 2015 — still boasts Google as its central fixture and key moneymaker.  

U.S. Attorney General William Barr said in December last year that he hoped to have Justice Department investigations of the big tech platforms – Facebook Inc, Alphabet Inc’s Google, Amazon.com Inc and Apple Inc – completed next year.

The four tech companies have been lightning rods for regulator probes this year.

It was announced in July that the Department of Justice had opened a sweeping antitrust investigation of big technology companies to look at whether their online platforms have hurt competition, suppressed innovation or otherwise harmed consumers.

The move came as a growing number of lawmakers called for stricter regulation or even breaking up of the big tech companies, which have come under intense scrutiny following a series of scandals that compromised users’ privacy. 

Technical Indicators

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 1,432.79.

The projected lower bound is: 1,359.19.

The projected closing price is: 1,395.99.

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 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 87.1275. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 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 68.46. 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 13 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 271.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 3 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 -0.870 at 1,393.340. Volume was 16% above average (neutral) and Bollinger Bands were 24% narrower than normal.

Open     High      Low     Close     Volume___
1,397.9401,402.9901,390.3801,393.340 1,511,693
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,359.34 1,321.97 1,212.16
Volatility: 22 18 29
Volume: 1,078,956 1,340,007 1,396,144

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 14.9% 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 20 periods.

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