Alphabet Inc. (NASDAQ:GOOGL) Morgan Stanley has increased its price target

Alphabet Inc. (NASDAQ:GOOGL) Morgan Stanley has increased its price target

Alphabet Inc. (NASDAQ:GOOGL) Morgan Stanley has increased its price target

Morgan Stanley can’t get enough of Waymo.

After saying that Google’s secretive self-driving car project could be worth $175 billion — already a $100 billion uptick from its previous valuation — the bank now believes that once the automotive unit starts its ride-hailing service this year, Alphabet’s stock could surge 20% to $1,515 per share.

“Given the continued strong core fundamentals and growing Waymo visibility, we adjust our GOOGL price target calculation and raise our price target to $1,515 (from $1,325), which represents ~20% upside,” analyst Brian Nowak said in a note to clients Wednesday.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 1,312.31.

The projected lower bound is: 1,220.43.

The projected closing price is: 1,266.37.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 25 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 88.2367. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 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 61.59. 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 23 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 115.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 6 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 0 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC A closed up 18.790 at 1,264.650. Volume was 1% above average (neutral) and Bollinger Bands were 40% narrower than normal.

Open High Low Close Volume___
1,255.0001,267.1701,252.8001,264.650 1,846,615

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

Moving Averages: 10-period 50-period 200-period
Close: 1,232.57 1,208.86 1,116.12
Volatility: 17 24 29
Volume: 1,374,165 1,768,752 1,914,213

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 A is currently 13.3% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of GOOGL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOOGL.O and have had this outlook for the last 5 periods.

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