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—Ryan Fitzwater, Publisher
Earnings season is around the corner, which means it’s time to play one of my favorite trades around earnings: the pre-earnings runup.
This week we’ve got TSLA and NFLX reporting. Next week brings out the heavy hitters: MSFT, AAPL, GOOGL, AMZN, META, LLY… the list goes on and on.
And I’ve got skin in the game on what might be the cleanest pre-earnings momentum setup of the bunch: GOOGL reporting October 29th.
I’m playing this daily squeeze for a run into earnings next week.
We were up around 80% on this trade Thursday, but it’s come in a little since then.
Here’s why I’m still holding.
The Chart Is Still Really, Really Nice
Look, when you’re up 80% on a trade and it pulls back, your first instinct is to lock in profits. I get it. But the chart is still really, really nice, and this is exactly why I play pre-earnings setups.
GOOGL has this daily squeeze that looks incredible. When I say “daily squeeze,” picture a compressed spring ready to explode.
The stock’s been coiling sideways, building energy, and we’re sitting just days away from an earnings catalyst.
But here’s what gets me really excited: GOOGL also has stacked squeezes on several other timeframes. Daily, 60-minute, 30-minute – they’re all compressed and pointing the same direction.
Think of it like having multiple springs stacked together, all ready to push this stock higher into earnings.
New Highs Are Coming
This is probably the top name I’m watching this week and next, though that could change of course.
GOOGL is a prime candidate for lottos this week because I think new highs are coming.
The stock is up 35% year-to-date, trading at all-time highs, with perfect technical alignment heading into one of the most watched tech earnings.
The exponential moving averages are stacked bullish on multiple timeframes. Every trend line shows strength.
Even with the recent pullback, we’re still sitting on a foundation of technical support that took months to build.
Fibonacci Targets Worth Waiting For
Here’s my game plan: I want to hold some of this position into either next Wednesday when GOOGL reports October 29th after market, or into my Fibonacci targets of $261.48 and $268.46.
Those aren’t random numbers. Fibonacci retracements show where momentum stocks typically find their next resistance levels. If GOOGL breaks through current levels and starts running into earnings, those targets become very realistic.
The risk is holding through earnings volatility. The reward is capturing what could be a significant pre-earnings momentum move.
Why I’m Staying In Despite the Pullback
When you’re up 80% on a trade and it comes in, you start questioning everything. Should I take profits? Should I scale out? Should I hold?
But this is exactly what pre-earnings setups do. They test your conviction right before they really move.
The daily squeeze is still compressed. The stacked EMAs are still providing support. The earnings catalyst is still coming October 29th. Nothing about my original thesis has changed.
If anything, the slight pullback just gave us a better entry point for anyone who missed the initial move.
My Scale-Out Strategy
I’m not holding blindly. I have a plan.
Scale out of the GOOGL 10/31 $275 calls over $3+.
That gives me a specific exit level where I’ll start taking profits while still leaving room for the earnings run. It’s high enough to capture significant upside but realistic enough to actually hit before earnings.
The beauty of having multiple timeframe squeezes is that if this thing starts moving, it can move fast. Those Fibonacci targets could come quickly once momentum kicks in.
Your Action Plan
This is what I love about earnings season. You get these technical setups that build for weeks, then earnings provides the catalyst to release all that pent-up energy.
GOOGL has everything you want in a pre-earnings play: relative strength, clean technicals, compressed volatility, and a major catalyst coming.
Sometimes the best opportunities come right after you start questioning your original thesis.
The chart is still really, really nice, and I’m holding for what could be new highs into earnings.
If you want to follow my live trades and see how I manage positions like this in real-time, check out Daily Profits Live.