Alphabet Inc. (NASDAQ:GOOG) struck a deal with Renault, Nissan, and Mitsubishi

Alphabet Inc. (NASDAQ:GOOG) struck a deal with Renault, Nissan, and Mitsubishi

Alphabet Inc. (NASDAQ:GOOG) struck a deal with Renault, Nissan, and Mitsubishi

Back at I/O 2018, Google put an Android Automotive setup on a RAM 1500 pickup that completely replaced the vehicle’s normal stock interface. You’ve probably used or at least heard of Android Auto which mirrors apps from an Android device to the car’s screen.

However, it’s not actually full Android running on a car. Yesterday, Google just struck a deal with Renault, Nissan, and Mitsubishi to run Android-powered infotainment systems—like the one on the RAM 1500 pickup—starting in 2021.

This isn’t your typical Android Auto. Google calls it “Android Automotive.” These new systems will offer apps through the Play Store, navigation through Google Maps, and voice commands through the Google Assistant. It’ll include support for all the car’s various functions like climate controls. It’ll be quite similar to something like Tesla’s in-car software.

Google will have access to everything generated by its in-car apps after gaining permission from the user. The systems will still be compatible with mobile devices using Apple CarPlay.

Google has been trying to get into the car space for quite a while. Through Google I/O 2016 and 2018, Google’s demonstrated a lot that it can do with Android Automotive. However, car companies see Google and other tech giants as potential competitors who may mine user data for profit. Many automakers like Mercedes-Benz and BMW create their own infotainment systems instead.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1,213.82.

The projected lower bound is: 1,129.09.

The projected closing price is: 1,171.45.

Candlesticks

A white body occurred (because prices closed higher 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 21 white candles and 29 black candles for a net of 8 black 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 33.1753. This is not an overbought or oversold reading. The last signal was a buy 6 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 43.26. 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 37 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 -53. This is not a topping or bottoming area. The last signal was a buy 6 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 sell 11 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 9.870 at 1,171.090. Volume was 100% below average (consolidating) and Bollinger Bands were 14% wider than normal.

Open High Low Close Volume___
1,164.9801,173.2101,154.5801,171.090 87

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,167.73 1,207.78 1,117.80
Volatility: 18 22 29
Volume: 1,179,619 1,415,916 1,624,981

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 4.8% above its 200-period moving average and is in an downward 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 bearish on GOOG.O and have had this outlook for the last 19 periods.

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