Tesla: Crazy Market! Where Is Your Top?
TESLA INC NASDAQ:TSLA
It is the crazy market, and it shows why the stock trading is so cool!
If you could follow the clear trend reversal signal from the downtrend line and SMAs , you would be able to open at least several positions between 225.00 and 275.00 levels. For this, you needed minimum knowledge of how to trade using these tools. The stable uptrend could give you solid profit.
Now, I want to talk with you about the possible market top. We have 550.00 round numbers, which can reverse the uptrend and push the price downward. Yes, it can be a possible starting point for a correction as well.
It gives us the opportunity to sell shares with entry below 525.00 and the stop above 550.00 resistance. We can think about fixing at least the part of profit as the market looks overbought. We can add this market to a portfolio as after a correction, it will be able to give a new buy opportunity in the direction of the bullish trend .
As you can see, for everyone, this market has something interesting, and we should watch for the price action at the possible reversal zone.
I would like to ask you, do you think the price will continue making new highs? Do you have positions in this market, and what is your trading plan?
I must remind you one more time, I just share with you my thoughts which are not “call to action”. If you have your own plan for any market, you must follow it.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov