Two silver linings on $GOOGL after that brutal -10% wipeout:
1) Death cross printed today. Last time this setup hit? Immediate bottom. Clean reversal from there.
2) Last earnings drop? Same story. Not only recovered the entire dump and gap-filled within 10 days, but tacked on another 10% on top of that.
Technical context matters. Death crosses can mark capitulation bottoms, especially when sentiment is max bearish. Last ER's violent drop-then-rip shows how quickly oversold tech can snap back when the panic fades.
Obviously this is cope and hopium until it's not. But if you're long $GOOGL or hunting a bounce, these are the setups worth watching. Risk-reward skews interesting here if support holds and we get any positive catalyst or AI product news in the next week.
Chart says maybe. Sentiment says everyone's puking. That's usually when the setup gets spicy.
1) Death cross printed today. Last time this setup hit? Immediate bottom. Clean reversal from there.
2) Last earnings drop? Same story. Not only recovered the entire dump and gap-filled within 10 days, but tacked on another 10% on top of that.
Technical context matters. Death crosses can mark capitulation bottoms, especially when sentiment is max bearish. Last ER's violent drop-then-rip shows how quickly oversold tech can snap back when the panic fades.
Obviously this is cope and hopium until it's not. But if you're long $GOOGL or hunting a bounce, these are the setups worth watching. Risk-reward skews interesting here if support holds and we get any positive catalyst or AI product news in the next week.
Chart says maybe. Sentiment says everyone's puking. That's usually when the setup gets spicy.