GOOGL April 26, 2024: Lessons Learned After Earnings
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.
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)
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)
Trade active:
A completely normal pullback on weekly chart. I am still holding what I have bought from the start of the week.
