GOOGL April 3, 2024: Price Target This Time?

On April 1, 2024, GOOGL broke out to a new high, as mentioned in my post in the related ideas section. I entered my first position there on that candle.

Now, what is the target price?

I don't use target prices much in my trading because I am a trend-following trader, and I am trying to hold on to a position for as long as possible until the uptrend ends.

But let's try to use some pattern for a prediction.

The target price was shown on the chart.

Trade attivo:

We sold 50% of the position as the stock went down from its high. We will keep the 50% as long as the stock stay above its MA-20

Trade chiuso manualmente:

The stock did reach the target price as described above. However I could not keep the position into earnings as the overall market was very weak. I closed the trade before the earnings therefore I missed the upside of breaking out after earnings. I will look for opportunities to enter again.