California regulators have approved self-driving cars from Alphabet Inc. (NASDAQ:GOOG) owned Waymo to carry passengers
Alphabet’s self-driving car company Waymo can now begin transporting passengers in its robotaxis, thanks to a new regulatory approval in California.
The California Public Utilities Commission issued Waymo approval to join a test program called Autonomous Vehicle Passenger Service Pilot. It comes nearly a week after Waymo made its autonomous vehicles available to Lyft riders in Phoenix.
The permit is significant because it brings the company, which has been working on self-driving car technology for years, one step closer to using its cars for commercial service. Waymo spun out of sister-company Google in December 2016, and has been testing its commercial robotaxi service called Waymo One with a limited group of customers in Phoenix since December 2018.
Waymo isn’t the only big name experimenting with robotaxis. Uber is developing and testing its own self-driving technology, and Tesla CEO Elon Musk said earlier this year that Tesla cars will be able to serve as robotaxis some time in 2020.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1,174.16.
The projected lower bound is: 1,042.83.
The projected closing price is: 1,108.50.
A white body occurred (because prices closed higher 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 24 white candles and 26 black candles for a net of 2 black candles.
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 55.8524. This is not an overbought or oversold reading. The last signal was a buy 1 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 52.78. 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 17 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 58. This is not a topping or bottoming area. The last signal was a sell 5 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 buy 14 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 13.300 at 1,111.250. Volume was 34% below average (neutral) and Bollinger Bands were 29% 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: 1,098.34 1,133.61 1,118.66
Volatility: 22 36 35
Volume: 1,443,048 1,664,934 1,655,694
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 0.7% below 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 8 periods.
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