Cautiously Long After Today's Selloff
Updated
Hello everyone,
TSLA had a major sell off after little news (besides the case being brought against Elon).
We still have an "earnings hype" coming in the next month.
I had this wedge pattern on my TSLA chart for a couple weeks now. We have hit the bottom almost perfectly, but I include the possibility of a further drop to about $221.
This is not financial advise:
My disclosure is:
(i) I have been holding shares of TSLA bought at an average price of $205.
(ii) I have just today picked up some near term (expiring Oct 4th) calls in an expectation for a bounce from today's sell off. The purple lines are, in my opinion, the minimum safe level we can see "bounces" go up to.
Trade safely and at your own endeavor!
Jack
TSLA had a major sell off after little news (besides the case being brought against Elon).
We still have an "earnings hype" coming in the next month.
I had this wedge pattern on my TSLA chart for a couple weeks now. We have hit the bottom almost perfectly, but I include the possibility of a further drop to about $221.
This is not financial advise:
My disclosure is:
(i) I have been holding shares of TSLA bought at an average price of $205.
(ii) I have just today picked up some near term (expiring Oct 4th) calls in an expectation for a bounce from today's sell off. The purple lines are, in my opinion, the minimum safe level we can see "bounces" go up to.
Trade safely and at your own endeavor!
Jack
Comment
I expect to see at least an impulse up to 232 tomorrow or Friday.Trade closed manually
TSLA is looking great. News didn't affect stock at all, people are becoming more and more interested in this stock!! Watch carefully to see if we break this wedge, sky could be the limit if we do so... First 260-275-300. Its too risky to buy now, wait for break of 250.
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