FADE THE POP on news. Tesla to the ground!
Updated
TSLA pops after hour on news, running up to as high as $246: "General Motors will follow crosstown rival Ford Motor in partnering with Tesla to use the electric vehicle leader’s North American charging network and technologies."We often see stocks pop on news, which gives us a chance to fade the selloff. Beware, just as you should not try to catch a falling knife, you should not try to hold down a rocket ship. That's why I give a short time to declare itself.
TSLA is pushing into the daily supply between $227-$237 from back in 11/2022. If buyers cannot hold, we have a long way down for the rest of the year with good risk to reward.Buy time. An early entry is below $233.44 which is proven support/resistance and a sure confirmation of seller strength is a daily hold below $228.36
Note
That confirmation to enter short with a daily hold below $228.36 never came. Will revisit!
It's not about the money made. It's about the freedom created.
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.