Lots of attention with Elon Musk regarding TWTR; therefore, TSLA is also reacting.
I'd say be a little conservative on TSLA and keep in mind how the broader markets are behaving -- not just on a small time frame like 1-5 minutes.
Yes, it may be a fantastic company with a great product, brilliant leader, etc.; however, as technicians we need to focus on 'what is happening' in the now without the human biased emotions of thinking what the company 'could be' or 'could not be' in the future. Does it fall today? That is up to the markets. Keep focused on what the broader markets are doing so you don't get stuck holding the bag due to 'thoughts and theories' forecasted 5-15 years from now.
Never know, we could see that retail trader/investor spike at the open (FOMO chasing the price up) and trend lower the rest of the day. This doesn't go for just TSLA, but broader implications.
Trade Smart; Live to Trade Another Day!
I'd say be a little conservative on TSLA and keep in mind how the broader markets are behaving -- not just on a small time frame like 1-5 minutes.
Yes, it may be a fantastic company with a great product, brilliant leader, etc.; however, as technicians we need to focus on 'what is happening' in the now without the human biased emotions of thinking what the company 'could be' or 'could not be' in the future. Does it fall today? That is up to the markets. Keep focused on what the broader markets are doing so you don't get stuck holding the bag due to 'thoughts and theories' forecasted 5-15 years from now.
Never know, we could see that retail trader/investor spike at the open (FOMO chasing the price up) and trend lower the rest of the day. This doesn't go for just TSLA, but broader implications.
Trade Smart; Live to Trade Another Day!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.