Alphabet Inc. (NASDAQ:GOOG) This Can’t Be Happening!
Losing at cloud is galling for Google, which practically invented the technology to run its search business. Its mistake was failing to get into cloud re-sale quickly or to treat cloud re-sale seriously enough.
Google is now as serious as a heart attack with Kurian, who wants an army of salesmen beating the bushes for business, after managing a 35,000 strong sales team at Oracle.
Predecessor Diane Greene increased that salesforce by 400% during her three years in charge. Kurian told a Goldman Sachs conference recently he wants every enterprise on Google Cloud to have someone to call when they have infrastructure problems.
Already, Kurian said Google has doubled its count of Cloud contracts worth over $1 million, and is now doing $100 million deals. But Google has yet to describe the size of its resale business, except to say it’s over $1 billion.
The problem is GSuite, Google’s collection of business tools, aren’t as good as Microsoft Office. The Exchange email system is more flexible than Gmail. Google Docs doesn’t hold a candle to Microsoft Word, and Google Slides can’t challenge Microsoft Powerpoint. While Google did increase its cloud market share by 1% in 2018, Microsoft’s gains were three times that.
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 1,094.02.
The projected upper bound is: 1,177.58.
The projected lower bound is: 1,050.01.
The projected closing price is: 1,113.79.
A black body occurred (because prices closed lower 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 21 white candles and 29 black candles for a net of 8 black candles.
An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with ALPHABET INC C). It then signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.
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 64.9014. This is not an overbought or oversold reading. The last signal was a buy 3 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 55.48. 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 85 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 41. This is not a topping or bottoming area. The last signal was a sell 6 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 4 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -8.020 at 1,113.650. Volume was 22% below average (neutral) and Bollinger Bands were 19% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1,115.96 1,067.85 1,120.39
Volatility: 28 39 33
Volume: 1,747,680 1,758,387 1,636,519
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 0.6% below 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 28 periods.