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norok
Feb 16, 2022 3:43 PM

Garmin Earnings Spike Long

Garmin Ltd.NYSE

Description

Garmin NYSE:GRMN had earnings today and the price action on the swing timeframes broke the past weeks' lows to recover back inside the range. This setup is happening right on the 50% Retracement of the COVID low to All Time High along with an Ichimoku Cloud Pullback on the Weekly timeframe. Options spreads are wide so this trade will be best expressed with shares.

Comment

The 30 minute spike setup
Comments
Vibranium_Capital
seems like good earnings will not stay safe during this pullback
norok
@Vibranium_Capital, I think we have to acknowledge that a bull market discounts all bad news and goes up regardless.

So what is the inverse?
Vibranium_Capital
@norok, you answered your own question? ;)
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