GOOGL April 26, 2024: Lessons Learned After Earnings

28 apr

As you can see in my related ideas section, I opened a position in GOOGL on April 1, 2024 and decided to sell my entire position around April 15-18. Therefore I missed the upside on breaking out after earnings.

Here are the main reasons why I decided to sell.

• The overall market was very weak during that time. The main indices NDX, SPX just started to break down their own MA-50
  
• There are many earnings coming out this week.
  
• My position was opened on April 1 therefore I did not have any significant profit in it to hold through earnings
  

So now what is the plan?

Breaking into new high out of a large base is an opportunity to buy for trend-following traders. Therefore I will open a new position here with GOOGL, or even better if it will pull back to little to the previous resistance (the yellow line on the chart)

4 mag

Trade attivo

A completely normal pullback on weekly chart. I am still holding what I have bought from the start of the week.