Alphabet Inc. (NASDAQ:GOOG) Targets Shoppers, Eyes Amazon Turf

Alphabet Inc. (NASDAQ:GOOG) Targets Shoppers, Eyes Amazon Turf

Alphabet Inc. (NASDAQ:GOOG) Targets Shoppers, Eyes Amazon Turf

The company on Tuesday hosted its Google Marketing Live presentation, where it discussed new advertising products. It also unveiled a list of new products meant to attract online shoppers, encroaching on the turf of Amazon.com (AMZN).

“From a competitive standpoint, new ad formats and experiences may compete directly with Amazon, Facebook (FB) and Pinterest (PINS),” Baird analyst Colin Sebastian said in a report to clients. “Discovery ads are similar to native display ads on Facebook, Twitter (TWTR), and Pinterest based on signals from across Google properties. New shopping experience allows consumers to make purchases directly via Google. Google Shopping’s redesign allows customers to browse millions of products from thousands of retailers.”

UBS analyst Eric Sheridan said in his note to clients: “In shopping, Google is building upon past success with the launch of a redesigned omnichannel Google Shopping experience, including a personalized homepage/feed and more seamless checkout.”

He added that “Google also plans to extend Showcase Shopping ads to Google Images, Discover feed, and YouTube.”

For the March quarter, Google said revenue rose 17% to $36.34 billion, missing estimates of $37.33 billion.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 1,209.49.

The projected lower bound is: 1,091.68.

The projected closing price is: 1,150.58.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white 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 37.6184. This is not an overbought or oversold reading. 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 43.53. 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 16 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 -31. This is not a topping or bottoming area. The last signal was a buy 1 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 16 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 1.790 at 1,151.420. Volume was 100% below average (consolidating) and Bollinger Bands were 66% wider than normal.

Open High Low Close Volume___
1,146.7501,158.5201,145.8901,151.420 31

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

Moving Averages: 10-period 50-period 200-period
Close: 1,152.45 1,196.42 1,135.38
Volatility: 34 31 34
Volume: 1,374,058 1,454,065 1,614,430

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 1.4% above its 200-period moving average and is in an downward trend. Volatility is high 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 14 periods.

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