Big tech keeps pushing up, not sure why but is doing it. Google seems to catch up very quickly. Looks like is forming a bullish flag prior to break out the 160 resistance and test 140 level. I'm not sure how long is going to take so I just opened a long position (no calls this time) and wait.
Comment:
I don't understand these big caps stocks, now they want to correct. Damn, I'll hold this thing until it hits the $112 resistance area. Then I will see what to do with it. In the mean time I have a put to cover my long position, fortunately is a small position.
Trade active:
I think I figured this out. Price appears to be consolidating in that kind of triangle. It may pull back to the bottom. I'd add depending on how it reacts if it hits the support:
Trade active:
Trading at the bottom of the bullish flag. Great moment to open a position or buy calls. Give the calls a couple of weeks, this stock takes its time to move:
Trade active:
Earning calls tomorrow. It could break out the flag. Bought some calls on Friday last week, so far so good.
Trade closed: target reached:
Sold everything. I think eventually is going to break out the flag but my calls expire this Friday.