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Alphabet Inc. (NASDAQ:GOOG) Posted Nine straight quarters with growth of over 20% Y/Y

Alphabet Inc. (NASDAQ:GOOG) Posted Nine straight quarters with growth of over 20% Y/Y

Last week, Google, the crown jewel of Alphabet (Nasdaq: GOOG, GOOGL), was fined $5 billion by the European Commission, the executive body of the European Union.

It’s the largest fine ever levied by the regulator.

For most companies, a $5 billion fine would be devastating, if not fatal. But Google is not most companies. GOOG stock hardly budged, falling a mere 0.3 percent on the news.

Google’s revenue increased 25.6% over the past year, its 9th straight quarter of >20% Y/Y growth.

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 1,156.02.

The projected upper bound is: 1,314.56.

The projected lower bound is: 1,229.67.

The projected closing price is: 1,272.11.

Candlesticks

A white body occurred (because prices closed higher 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.

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 91.6293. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 77.53. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 26 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 168.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 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 12 period(s) ago.

Rex Takasugi – TD Profile

ALPHABET INC C closed up 4.630 at 1,268.330. Volume was 42% above average (neutral) and Bollinger Bands were 56% wider than normal.

Open High Low Close Volume___
1,251.0001,269.7711,249.0201,268.330 2,405,638

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

Moving Averages: 10-period 50-period 200-period
Close: 1,212.48 1,139.56 1,080.56
Volatility: 23 24 29
Volume: 1,828,984 1,461,403 1,632,079

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 17.4% 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 moderate flows of volume into GOOG.O (mildly bullish). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 12 periods. Our momentum oscillator is currently indicating that GOOG.O is currently in an overbought condition.