Global Regulations Should Help Alphabet (NASDAQ:GOOG) Stock
Alphabet Inc (Nasdaq: GOOG, GOOGL) investors have kept a close eye on the global regulatory climate and its potential impact on Google’s advertising business. But analysts now say more regulation on data collection and usage will actually serve to help Google defend its dominant market share against smaller competitors.
According to Nomura Instinet analyst Mark Kelley, there are parallels between what is happening in the online advertising business and what happened to the U.S. banking industry following the 2008 financial crisis.
“With large audiences already in place, the large platforms are best positioned, in our view, and we expect the newly regulated industry to embolden these incumbents, consistent with recent history,” Kelley says.
Kelley says large, well-established companies like Google and Facebook (FB) are better equipped to handle the financial burden of regulation than their smaller competitors.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1,228.26.
The projected lower bound is: 1,144.55.
The projected closing price is: 1,186.40.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white 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 89.9080. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 8 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 66.08. 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 16 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 158.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 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 2 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 29.580 at 1,183.480. Volume was 26% below average (neutral) and Bollinger Bands were 21% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,136.89 1,110.32 1,067.77
Volatility: 24 24 29
Volume: 1,042,593 1,411,267 1,605,184
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 10.8% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 2 periods.
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