All signs point to being long:
1. Tesla is above the last two earnings report levels at 202 and 200.
2. The range movement indicator is just backing off from a fresh, all time high.
3. The CCI is turning up from oversold indicating a wave of selling has gone past.
Nerves are on high:
1. There is a "bear flag" looking side-ways pattern here for the past 10-days.
2. The trendline going back a year looks ominously ready to be tested.
3. Earnings are due in 9 days = the company is in a quiet period ahead of earnings.
What is the riskiest thing you can do? Enter into a trade where you don't have an exit strategy and if you can't live with the results if it doesn't pan out. Keep your trading size appropriate so you don't risk more than 1% of your trading capital on any one idea. This will keep you level headed.
Assume that TSLA can move up or down 40 points on earnings like it did last time. So if you own 10 shares or $2200 worth, you could lose 20 percent or $400. I'm just laying out the ground rules here - I have no position currently in TSLA but am watching it very closely and wanted you to have the key "hidden support" levels ahead of earnings.
Tim
1. Tesla is above the last two earnings report levels at 202 and 200.
2. The range movement indicator is just backing off from a fresh, all time high.
3. The CCI is turning up from oversold indicating a wave of selling has gone past.
Nerves are on high:
1. There is a "bear flag" looking side-ways pattern here for the past 10-days.
2. The trendline going back a year looks ominously ready to be tested.
3. Earnings are due in 9 days = the company is in a quiet period ahead of earnings.
What is the riskiest thing you can do? Enter into a trade where you don't have an exit strategy and if you can't live with the results if it doesn't pan out. Keep your trading size appropriate so you don't risk more than 1% of your trading capital on any one idea. This will keep you level headed.
Assume that TSLA can move up or down 40 points on earnings like it did last time. So if you own 10 shares or $2200 worth, you could lose 20 percent or $400. I'm just laying out the ground rules here - I have no position currently in TSLA but am watching it very closely and wanted you to have the key "hidden support" levels ahead of earnings.
Tim
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