Alphabet Inc. (NASDAQ:GOOG) won’t compete for the Pentagon’s $10 billion cloud-computing contract
Alphabet Inc.’s Google won’t compete for the Pentagon’s cloud-computing contract that is valued at as much as $10 billion, saying the project may conflict with its corporate values, Bloomberg reported.
Bids for the project, known as the Joint Enterprise Defense Infrastructure cloud, or JEDI, are due on Friday, Oct. 12. The contract could last as long as 10 years.
“We are not bidding on the JEDI contract because first, we couldn’t be assured that it would align with our AI Principles,” a Google spokesman told Bloomberg in a statement. “And second, we determined that there were portions of the contract that were out of scope with our current government certifications.”
A few months ago, Google decided not to renew its contract with a Pentagon artificial intelligence program, after employees protested about the company working with the military.
Alphabet was down 0.5% in premarket trading on Tuesday.
Separately, Google is expected Tuesday to unveil two new Pixel-branded smartphones at an event in New York.
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 1,179.54.
The projected upper bound is: 1,173.87.
The projected lower bound is: 1,100.53.
The projected closing price is: 1,137.20.
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 20 white candles and 30 black candles for a net of 10 black candles.
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 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 19.9983. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 6 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 35.01. 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 51 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 -155.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 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 1 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -10.150 at 1,138.820. Volume was 100% below average (consolidating) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,178.03 1,199.20 1,127.25
Volatility: 20 19 29
Volume: 1,373,167 1,379,127 1,630,283
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 1.0% above its 200-period moving average and is in an downward 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 bearish on GOOG.O and have had this outlook for the last 1 periods.