Alphabet Inc. (NASDAQ:GOOG) Shayne ‘Jack’ Heffernan maintains a Buy rating
This week is shaping up to be an important one for Alphabet (GOOGL) as the Google Cloud Next conference will commence on Tuesday and go through Thursday. If this is to look like last year’s conference, Google is expected to announce new products and partnerships, perhaps including advances in cloud-based machine learning and AI.
Like much of the industry, Alphabet’s stock rose about 16% since the beginning of January. A strong start was much needed for the tech giant, after a 2018 that failed to impress.
Heffx CEO and Founder, Shayne ‘Jack’ Heffernan expects GOOGL to continue increasing, as he maintains a Buy rating and $1,310 price target, which implies nearly 9% upside from current levels.
All in all, there is no doubting that Wall Street loves Alphabet. TipRanks analysis of 28 analyst ratings on the stock shows a Strong Buy consensus, with 28 analysts recommending Buy, and only two saying Hold. The $1,351.68 average price target on the stock represents a 12% upside from current levels.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1,248.80.
The projected lower bound is: 1,163.39.
The projected closing price is: 1,206.10.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black 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 80.6355. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 59.17. 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 11 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 29. This is not a topping or bottoming area. The last signal was a buy 5 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 9 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -3.310 at 1,203.840. Volume was 47% below average (neutral) and Bollinger Bands were 35% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,192.63 1,149.93 1,132.40
Volatility: 15 24 32
Volume: 1,140,064 1,430,693 1,611,007
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 6.3% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 25 periods.
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