$Alphabet(GOOG)$ OCT30 350C, still actionable.
Zone: $339.10 to $343.90
Invalidation: close under $336
Objectives: $355, then $371
The math: up 4.0% to the first objective and 8.6% to the second, against 1.6% risk on the invalidation, better than 5 to 1 to the second.
The setup looks like a big ship that has been sitting in a harbor between $337 and $355 for weeks, waiting for a reason to move. Alphabet reports earnings on October 28, and that report is the reason, because Cloud growth and Search will tell everyone whether this range was quiet building or quiet doubt. Price is holding near $341 after buyers defended the low end again. This swing setup buys time through that report with a clear floor, and room toward $355 first and $371 next if buyers finally push out of the harbor.
Also worth watching October 28 after the close. That earnings report decides whether $355 breaks or $337 gets tested again.
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