Alphabet Inc. (NASDAQ:GOOG) the race is on to hit $1 trillion

Alphabet Inc. (NASDAQ:GOOG) the race is on to hit $1 trillion

Alphabet Inc. (NASDAQ:GOOG) the race is on to hit $1 trillion

For a long time, Apple appeared to be flying solo to a $1 trillion market value. But Amazon is right at its heels — and experts have no fears of a tech bubble.

Apple, at $939 billion, remains the highest-valued private company on the global markets, and could well cross the $1 trillion line when it releases its quarterly results Tuesday.

But the online commerce giant is right behind. Its market capitalization reached $917 billion on Friday before finishing the day at $882 billion, thanks to quarterly figures well received by investors.

Google’s parent company, Alphabet, worth $886 billion, and Microsoft ($827 billion) are also on track.

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 1,159.79.

The projected upper bound is: 1,265.48.

The projected lower bound is: 1,175.08.

The projected closing price is: 1,220.28.

Candlesticks

A black body occurred (because prices closed lower 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 26 white candles and 24 black candles for a net of 2 white candles.

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.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 34.6288. This is not an overbought or oversold reading. The last signal was a sell 1 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 58.71. 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 2 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 12. This is not a topping or bottoming area. The last signal was a sell 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 buy 15 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -2.480 at 1,217.260. Volume was 2% below average (neutral) and Bollinger Bands were 42% wider than normal.

Open High Low Close Volume___
1,220.0101,227.5881,205.6001,217.260 1,644,722

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

Moving Averages: 10-period 50-period 200-period
Close: 1,222.89 1,148.53 1,084.19
Volatility: 30 25 29
Volume: 2,002,693 1,499,780 1,640,583

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 12.3% above its 200-period moving average and is in an upward trend. Volatility is 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 15 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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