Alphabet Inc. (NASDAQ:GOOG) tech giant launched its AI Impact Challenge
Google shares closed in the red Monday, as the tech giant launched its AI Impact Challenge to invite submissions for how its AI capabilities could be used to positively benefit society.
Google shares closed lower in the US Monday, after the US tech giant said it plans to grant $25 million during 2019, to use AI to positively benefit society. Google has requested ideas and submissions on how to use and develop its AI capabilities to positively address societal changes.
Google shares ended the US Monday trading session 4.52% lower at $1,034.73. The stock, however, is a little higher in out-of-hours activity.
Google’s AI Impact Challenge
The firm’s AI Impact Challenge seeks to build on its existing work of developing new processes and programs that benefit society.
“For the past few years we’ve been applying core Google AI research and engineering to projects with positive societal impact, including forecasting floods, protecting whales, and predicting famine,” said Google VP and President of Google.org, Jacqueline Fuller.
“We’re launching the Google AI Impact Challenge, a global call for nonprofits, academics, and social enterprises from around the world to submit proposals on how they could use AI to help address some of the world’s greatest social, humanitarian and environmental problems,” Fuller added.
Google said it has $25 million available for worthy AI development ideas during 2019. The top proposals will be selected in the Spring of next year.
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 1,144.26.
The projected upper bound is: 1,093.02.
The projected lower bound is: 972.54.
The projected closing price is: 1,032.78.
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 23 white candles and 27 black candles for a net of 4 black 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 33.0729. This is not an overbought or oversold reading. The last signal was a buy 11 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 36.07. 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 12 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 -199.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 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 sell 16 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 16.130 at 1,036.210. Volume was 102% above average (neutral) and Bollinger Bands were 59% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,077.90 1,156.60 1,127.25
Volatility: 52 35 33
Volume: 2,400,151 1,715,589 1,728,318
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 8.1% 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 moderate flows of volume out of GOOG.O (mildly bearish). Our trend forecasting oscillators are currently bearish on GOOG.O and have had this outlook for the last 16 periods.
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