Trade Recap 15 Sep-19 Sep
In my previous post Tesla's Imminent Major Market Move on September 13, 2023, I shared insights on Tesla's outlook by analysing the weekly chart, highlighting the downtrend line originating from its November 2021 peak.
TSLA Weekly Chart
Last Friday, there was a clear rejection signal.$Tesla Motors(TSLA)$
TSLA Daily Chart
Taking note of this rejection, which coincide with the infamous Quadruple Witching day, I decided to capitalise on short-term profits by selling $TSLA 20231117 350.0 CALL$ . Soon after, the news from Goldman Sachs lowering earnings forecasts on Tesla while reiterating a neutral rating and a $275 per share price target caused Tesla stock price to plunge further. [Anger]
Extract from my previous post
Did I have prior knowledge of the bad news? Absolutely not. [LOL] However, my position has since turned green, and I'm pleased to walk away with a 45% profit in just 2-3 trading days. [Miser] Trading is all about making informed decisions in real-time, and this trade recap demonstrates the importance of staying agile in the market.
Success in trading often comes from the ability to adapt, seizing opportunities even in uncertain times, turning potential setbacks into profitable victories. Wish you success! [Cool]
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$Semiconductor Bull 3X Shares(SOXL)$
Modify on 2023-09-19 22:36
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If interest rates continue to rise, I expect they will, the EV tax credit will be cancelled. It makes no sense for a the US government to borrow money in three years at 8% to fund the purchasing of electric cars. Higher interest rates will end rebates.
Once the big three start paying 20-40% more in wages, plus great benefits packages, how will Tesla keep employees? Tesla will need to increase wages and benefits too. Profit margins decline more. Thank god the cybertruck came out in q3.!
Tesla is doing great under the most ultra extreme macro economic conditions, like high interest rates. Imagine what will happen when interest rates start to fall.
In the event that TSLA shows some weakness, get ready to buy the dip. That's super strong support and would be a 3rd touch bounce. Targets 260 and 278 at first.
Lets hope Tesla stops stalling and starts tumbling down with a good trustworthy entry. As it stands, the upside kind of seems impossible. I see two things happening - 1) Tesla goes down as is positioned perfectly to do so, or 2) Tesla enters a range.
tsla stock is not going to drop to zero and also isn't going to $500.00
Tesla rules,strike or no strike. By far the superior product for the $ in Ev's. plus FSD and AI !!!!!!!!! MO.
Tesla is forming a gartley pattern, If it close below 237, it can get into a bear grip and can see 223/200/177
Price is holding steady for now. Let's see what happens at cash market open