$Alphabet(GOOG)$ NOV20 325C, still actionable.
Zone: $315.06 to $319.50
Invalidation: close under $310
Objectives: $336, then $355
Up 5.9% to the first objective and 11.9% to the second, against 2.3% risk on the invalidation. That works out to better than 5 to 1 to the second target.
Alphabet sold off for a week and then quietly stopped falling on Friday. It slipped from $336.40 on Tuesday to $317.28 on Friday, but Friday held above its low at $316.99 and closed with real volume behind it. That pause is the heart of this swing. A walk back toward $336 comes first, then $355 if buyers keep showing up. A close under $310 would say the pause was only a pause.
P.S. Alphabet reports after the close on October 28, so that date is worth watching for the loudest move in this window.
Comments