adatherton
Short

GOOGL Earnings Miss 12:1 trade.

NASDAQ:GOOGL   Alphabet Inc (Google) Class A
The last time GOOGL missed on earnings was 18Q2, and the price action into that is very similar to that from December 2018. In both cases there is

- a rise before earnings of just over 30% in a clear parallel channel to around 1290
- a drop into a lower pitchfork channel, losing 10% to around 1155
- a 50% fib deadcat bounce to around 1220
- then a return to the original low around 985.

If this repeats, the trade is to sell 1220, stop 1240 for 985, which is nearly 12:1.



David Atherton
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