Alphabet Inc. (NASDAQ:GOOG) Teaching hardware to do new tricks

Alphabet Inc. (NASDAQ:GOOG) Teaching hardware to do new tricks

Alphabet Inc. (NASDAQ:GOOG) Teaching hardware to do new tricks

The Pixel phones come loaded with lots of new software features, and the camera has been an area of focus to show those off. The Pixel 2 already had a best-in-class camera. The Pixel 3 builds on that with a new “Night Sight” mode for taking pictures in low-light environments, easier selfies taken with just a smile, and other photo-editing additions. If you point the camera at text and objects, the built-in Google Lens will use new artificial intelligence (AI) features to help users get directions, find local businesses, make calendar appointments, and take other actions.

The company is serious about promoting its other services, too. Pixel 3 purchasers will get a free YouTube Music Premium subscription for six months, and free unlimited picture and video storage. It’s also easy to upload pictures and videos to the new Home Hub smart display, and the two devices are designed to integrate with one another to create a seamless Google experience for users, wherever they are.

Perhaps the most controversial new feature is the initial rollout of Duplex to Pixel devices in November. Google thinks this new AI-powered communications software is ready to help people make appointments without making the call themselves. The “Call Screen” feature in Duplex will have Google Assistant take a call on the user’s behalf, then provide a transcript of the conversation. Unwanted telemarketers can be directed to place the number on their do-not-call list without ever having a conversation.

It’s likely that these new software capabilities will eventually make it to other Android phones, but Pixel owners get to be guinea pigs first. Google also says its own devices are the best way to get the most out of the various features. That could help the company dig deeper into the hardware world. But the software — and the recurring revenue that comes with it — is the real reason why Google is pushing new devices. They all feed into the company’s advertising and search business, as well as a growing list of subscription services. Android commands well over 80% of global market share of mobile devices, so adding new capabilities will help Google find new ways to monetize its users.

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 1,164.58.

The projected upper bound is: 1,153.35.

The projected lower bound is: 1,062.17.

The projected closing price is: 1,107.76.

Candlesticks

A white body occurred (because prices closed higher 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 21 white candles and 29 black candles for a net of 8 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 16.4778. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 9 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 36.00. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -116.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 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 4 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 30.760 at 1,110.080. Volume was 42% above average (neutral) and Bollinger Bands were 37% wider than normal.

Open High Low Close Volume___
1,108.0001,115.0001,086.4021,110.080 2,101,303

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1,148.23 1,191.34 1,127.77
Volatility: 39 25 30
Volume: 1,866,396 1,464,980 1,661,522

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 1.6% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 4 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH