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Alphabet Inc. (NASDAQ:GOOG) Earnings Due

Alphabet Inc. (NASDAQ:GOOG) Earnings Due

The web giant’s report and earnings call should help answer an important question or two about its largest business, and maybe provide some useful details about how smaller ones are progressing.

Google’s Q2 report arrives after the close on Monday, and its call will start at 4:30 P.M. Eastern Time. Excluding traffic acquisition costs (TAC – ad revenue-sharing payments made to partners), the analyst consensus is for revenue of $25.58 billion (up 22% annually) and GAAP EPS of $9.66.

Shares are going into earnings close to a recently-set high of $1,204.50.

Google earnings per share are expected to climb just 7% to $9.51 a share. That reflects rising costs for the search giant. Traffic acquisition costs, what Google pays partner websites to carry its ads, have been rising. Meanwhile, Alphabet’s investments in cloud computing, self-driving cars and more are squeezing markets. The report comes days after the European Union slapped a $5 billion fine over Google’s Android mobile software.

Overall, the bias in prices is: Upwards.

Note: this shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 1,134.28.

The projected upper bound is: 1,226.47.

The projected lower bound is: 1,147.44.

The projected closing price is: 1,186.95.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

An inverted hammer occurred. If this occurs during a downtrend it implies a reversal. Look for a confirmation of the reversal on the bar.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A shooting star occurred (a shooting star has a small real body near the bottom of the candle and a long upper shadow). During an uptrend(which appears to be the case with ALPHABET INC C) the long upper shadow indicates that the bears are gaining control and a top may occur.

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 black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 60.6841. This is not an overbought or oversold reading. The last signal was a sell 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 62.12. 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 22 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 69. This is not a topping or bottoming area. The last signal was a sell 1 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 8 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed down -2.050 at 1,184.910. Volume was 25% below average (neutral) and Bollinger Bands were 9% wider than normal.

Open High Low Close Volume___
1,186.9601,196.8601,184.2201,184.910 1,248,400

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

Moving Averages: 10-period 50-period 200-period
Close: 1,178.35 1,127.35 1,075.02
Volatility: 18 22 29
Volume: 1,188,602 1,365,934 1,600,821

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 10.2% 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 8 periods.