Alphabet (GOOGL): Profit-Taking

When Google (okay…  Alphabet (GOOGL)) blew out its quarter in a big way on Thursday evening, it gapped high up at the open, blowing away its all-time high by a significant margin and triggering my next sell order which sold 39.73% of my position at $174.33, removing all remaining capital plus some profits from my position.

The sale locked in +71.03% in gains selling some of the shares I bought for $101.93 when I initially opened the position on September 16, 2022, and lowered my per-share “cost” -$71.38 from $66.07 to -$5.31 (a negative per-share cost indicates all capital has been removed in addition to $5.31 per share added to the portfolio’s bottom line in addition to each share’s current value).

With no capital left in this position and Alphabet announcing a decent 0.45% during its earnings call, I have no additional sell targets for GOOGL at this time. Additionally, given Google’s stellar performance, I’ve raised my next buy target to $140.89, above a recent point of support as well as many key moving averages.

GOOGL closed the week at $171.95, down -1.37% from where I took profits Friday.

Tesla (TSLA): Added to Position

Tesla’s (TSLA) downdraft continued this week when, on Monday, the company announced it would be further cutting prices on its electric vehicles (EV) in China with competitors also following suit. TSLA opened gap-down on Monday, triggering my next buy which added 0.61% at $141.69, locking in a -17.38% discount replacing some of the shares I sold for $171.49 back on February 1, 2023.

The buy also raised my per-share “cost” +10.22% from -$43.85 to -$39.37 (a negative per-share cost indicates all capital has been removed in addition to $39.37 per share added to the portfolio’s bottom line in addition to each share’s current value).

While Tesla completely imploded its earnings report, CEO Elon Musk doubled-down on robotaxis and also stated that a cheaper vehicle was a priority with expectations it would be unveiled as early as the end of 2024. Despite a disastrous report, Tesla’s stock positively exploded higher following its earnings report, a testament to why I always add to positions at key support levels even if it looks like there’s nothing but bad news awaiting us.

From here, my next buy target is $124.89, above a past point of support, where will I continue adding in very small quantities as it’s hard to determine how low Tesla could go from here. My next sell target is $294.96, just under the high Tesla saw in 2023.

TSLA closed the week at $168.29, up +18.77% from where I added Monday.