Can Alphabet Inc. (NASDAQ:GOOG) steal Amazon’s lunch?

Can Alphabet Inc. (NASDAQ:GOOG) steal Amazon’s lunch?

Can Alphabet Inc. (NASDAQ:GOOG) steal Amazon’s lunch?

Following the feeding frenzy of Amazon Prime Day, Google has debuted its new shopping platform to lure customers with personalized recommendations. The tool is now live in the US, and will welcome you by name and show tailored suggestions if you’re logged in with your Google account.

Google has previously insisted that it has no intention of becoming a retailer, but the new shopping portal puts it in clear competition with Amazon.

Google isn’t about to start building warehouses to stock products though, and will instead point shoppers in the direction of a handful of selected retailers including Costco and Target.

Search for an item, and the new site will point you towards products for sale in Google’s own store (for devices like Google Home speakers), or from its chosen third-party sellers. According to Forbes, it may also point you in the direction of a physical bricks-and-mortar store.

Some products will be sold with a ‘Buy with Google Guarantee’, which promises a refund for shoppers if the recommended retailer fails to deliver on time.

Buy it now

Google has already tested the shopping platform in a few territories, including France, but has now rolled it out officially in its biggest potential market, the US. While it hasn’t launched outside of the US at the moment, the fact that it tested the platform in France suggests that Google has global ambitions.

Although Amazon has become a literal one-stop shop for virtually every product imaginable, Google has the advantage of having shoppers’ entire search history at its fingertips. It remains to be seen whether this will be enough to allow it to carve its own niche, or if it will end up like its ill-fated attempt to take on Facebook with Google+.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1,187.26.

The projected lower bound is: 1,087.90.

The projected closing price is: 1,137.58.

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 27 white candles and 23 black candles for a net of 4 white 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 31.3067. This is not an overbought or oversold reading. The last signal was a sell 3 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 55.38. 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 30 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 -3. This is not a topping or bottoming area. The last signal was a sell 3 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 27 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 7.970 at 1,138.070. Volume was 11% below average (neutral) and Bollinger Bands were 16% narrower than normal.

Open High Low Close Volume___
1,133.4501,139.2501,124.2401,138.070 1,301,846

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

Moving Averages: 10-period     50-period     200-period
Close: 1,141.92 1,114.58 1,115.93
Volatility: 14 29 35
Volume: 1,215,238 1,461,879 1,634,424

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 2.0% above 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 21 periods.

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