$Tesla Motors(TSLA)$ is in the lower support zone after breeching the previous support 1 circle above (refer to pnf chart). that was due to elon selling shares so that he can save twitter from bankruptcy. news that elon may have a new ceo for tsla and the recent vehicle recalls also add oil to the fire. elon may be selling more shares and shortists are seizing that opportunity to short or buy $TSLQ(TSLQ)$ . you can take a look at the short volume data taken from shortvolumes.com, the average is in the high 40s. usually when a support is broken, that will trigger selling, especially algo trading.
if you compare tsla with $Invesco QQQ Trust(QQQ)$ , tsla underperformed by about 23%. usually tech stocks like tsla will out perform qqq over time. so in my opinion, this is a good time to accumulate.
my strategy would be to buy 1 share every time it dips. ave price about 183 now, my position is small only 4 shares. 2 consecutive rows of 3h mr 9 says rebound is near. i'm applying technical analysis to the automatic investment system where you add/take profit at 10% intervals or at technical support/resistance.
merci beaucoup @TigerStars for queuing the 2 articles i wrote during the weekend. i was busy on monday hosting my friends from sg, so i didn't find time and energy to write an article. love ya [Heart]
bon courage
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