Alphabet Inc. (NASDAQ:GOOG) to acquire data-migration company Alooma

Alphabet Inc. (NASDAQ:GOOG) to acquire data-migration company Alooma

Alphabet Inc. (NASDAQ:GOOG) to acquire data-migration company Alooma

Alphabet Inc.’s GOOGL, +0.61% GOOG, +0.44% announced Tuesday that it planned to acquire Alooma, a data-migration company. Financial terms of the deal weren’t disclosed. “The addition of Alooma, subject to closing conditions, is a natural fit that allows us to offer customers a streamlined, automated migration experience to Google Cloud, and give them access to our full range of database services,” Google said in a release.

The company expects that the deal will help customers better take advantage of Google’s security, machine-learning, and artificial-intelligence technologies. Alphabet shares are up 0.6% in Tuesday morning trading, and they’ve gained nearly 10% in the past three months. The S&P 500 SPX, +0.15% has risen 3.1% in that time.

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 1,094.57.

The projected upper bound is: 1,179.08.

The projected lower bound is: 1,060.75.

The projected closing price is: 1,119.91.

Candlesticks

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 22 white candles and 28 black candles for a net of 6 black 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 57.6979. This is not an overbought or oversold reading. The last signal was a buy 4 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 56.72. 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 86 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 23. This is not a topping or bottoming area. The last signal was a sell 7 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 5 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 4.910 at 1,118.560. Volume was 43% below average (neutral) and Bollinger Bands were 18% narrower than normal.

Open High Low Close Volume___
1,110.0001,121.8901,110.0001,118.560 1,046,628

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

Moving Averages: 10-period 50-period 200-period
Close: 1,114.54 1,069.20 1,120.86
Volatility: 25 36 33
Volume: 1,594,696 1,732,417 1,633,737

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 0.2% 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 29 periods.

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