Alphabet Inc. (NASDAQ:GOOG) Target $1200
It may be hard to believe, but Alphabet Inc., the parent company of google, has only edged slightly higher than the S&P 500 over the last 52 weeks, outperforming by 16.76% vs. 14.19% respectively. Google is in the business of internet-related products and services which include advertising, managing applications, and sales of digital content and hardware products.
We still believe the company is a good buy in the technology sector. CressCap has a value grade on the stock of A-. Specifically, P/CF ratio at .03x compared to the sector at .25x shows the stock is inexpensive. In addition, profitability looks promising with a CressCap ranking of A+ for ROE and A for operating margin.
The price action of the stock has not been stellar compared to the sector. The stock’s CressCap momentum grade is C. Largely, this could be a result of the possible 11 billion dollar fine by the EU regarding its Android Operating System. This stock is on our buy list as it possesses strong EPS revisions, holds good value, and is profitable. We view this as an opportunity to investors.
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 1,084.79.
The projected upper bound is: 1,171.08.
The projected lower bound is: 1,075.31.
The projected closing price is: 1,123.20.
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 26 white candles and 24 black candles for a net of 2 white 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 65.0297. This is not an overbought or oversold reading. The last signal was a sell 0 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 60.63. 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 82 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 58. This is not a topping or bottoming area. The last signal was a sell 1 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 5 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -2.990 at 1,120.870. Volume was 33% below average (neutral) and Bollinger Bands were 25% 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: 1,106.88 1,061.71 1,043.10
Volatility: 26 29 28
Volume: 1,748,957 1,736,951 1,607,655
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 7.5% 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 23 periods.