Alphabet Inc. (NASDAQ:GOOG) expected to unveil new Pixel phone on Oct. 15

Alphabet Inc. (NASDAQ:GOOG) expected to unveil new Pixel phone on Oct. 15

Google on Monday sent out invitations to an October 15 event starring “things Made by Google,” with a new Pixel smartphone expected in the line-up.

The unveiling in New York City is likely to spotlight Google’s Android-powered challenge to the latest generation of iPhones recently unveiled by Apple.

The smartphone rivals typically introduce new hardware ahead of the year-end holiday shopping season.

Google appeared set to release a fourth-generation Pixel smartphone, possibly with features including the ability to recognize faces and gestures as part of its efforts to ramp up hardware in addition to its software and online services.

The move comes after Apple last week announced new iPhone and iPad models able to serve as stages for its new game and television services.

Google has struggle to break into the smartphone market dominated by South Korea’s Samsung, Apple and Chinese handset makers.

Technical Indicators

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 1,170.88.

The projected upper bound is: 1,301.50.

The projected lower bound is: 1,165.08.

The projected closing price is: 1,233.29.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 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 white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 85.9565. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 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 60.99. 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 33 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 111.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 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 7 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -8.260 at 1,231.300. Volume was 31% below average (neutral) and Bollinger Bands were 21% narrower than normal.

Open     High      Low     Close     Volume___
1,229.5201,239.5601,225.6101,231.300 1,007,869
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,210.18 1,179.20 1,137.72
Volatility: 21 37 34
Volume: 1,310,429 1,410,953 1,541,911

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 8.2% above its 200-period moving average and is in an upward 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 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 5 periods.

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