Alphabet Inc. (NASDAQ:GOOG) Stock Shrug Off Trump-Kim Talks
It’s back to the Hill for major tech giants.
The House Judiciary Committee is recalling representatives from Google (GOOG +0.6%, GOOGL +0.5%), Facebook (FB +0.9%) and Twitter (TWTR +6.3%) to testify June 26 in a hearing it’s planning to address anti-conservative bias, Bloomberg notes.
Yesterday, Facebook delivered 450 pages of documents that purported to answer questions that Mark Zuckerberg couldn’t address during appearances before House and Senate panels in April.
It’s been a spring of testimony for representatives of the companies in the wake of the Cambridge Analytica privacy scandal and growing scrutiny of how they manage user privacy and treat news dissemination.
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 1,089.68.
The projected upper bound is: 1,187.36.
The projected lower bound is: 1,096.59.
The projected closing price is: 1,141.98.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 54.8118. This is not an overbought or oversold reading. The last signal was a sell 2 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 65.25. 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 buy 84 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 77. This is not a topping or bottoming area. The last signal was a sell 3 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 buy 7 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 9.330 at 1,139.320. Volume was 52% below average (consolidating) and Bollinger Bands were 17% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,120.22 1,066.33 1,045.21
Volatility: 22 27 28
Volume: 1,671,634 1,668,633 1,605,809
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 9.0% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. 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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