MORE TESLA HEADLINES TO JUSTIFY THIS SHORT-TERM DOWNTREND.
As soon as Elon Musk started selling shares last Friday Tesla share price has been dropping. I'm assuming you sold all these shares to buy Twitter. I was waiting to buy the dip in Tesla but then we had another bearish headline come out to justify the downtrend further I was assuming. Check out the many many insider cells in the link below.
Here is the bearish headline I was talking about. Basically this news story is talking about how his full auto self-driving is unsafe and under investigation for multiple crashes into travel trailers. We have seen headlines about his self-driving being unsafe many times. So I'm still waiting to buy the dip.
And notice how all of these bearish headlines literally occurred at the recent local top from this uptrending price channel you can see in the chart below. Technically since last Friday we have been in this very short-term week-long downward trending price channel. Once we break above this very short term downward price channel, that I've highlighted by the light blue trend lines, then I will probably enter into a long position as I will assume the dip is over.
I have already missed catching the 52-week bottom in Tesla this year. I'm not going to miss this next dip.
$iShares Russell 2000 ETF(IWM.US$ $S&P/ASX 200(.XJO.AU$ $FTSE Singapore Straits Time Index(.STI.SG$ $SSE Composite Index(000001.SH$ $CSI 300 Index(000300.SH$ $Hang Seng Index(800000.HK$ $SPDR Dow Jones Industrial Average Trust(DIA.US$ $Invesco QQQ Trust(QQQ.US$ $iShares 20+ Year Treasury Bond ETF(TLT.US$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf(UUP.US$ $SPDR S&P 500 ETF(SPY.US$ $Apple(AAPL.US$ $Microsoft(MSFT.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares UltraPro QQQ ETF(TQQQ.US$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
18KFollowers
2972Following
32KVisitors
Follow
101504731 : he is trying to sell high and then buy low...
SpyderCall OP 101504731 : well he is a pretty smart guy you know
Markio1315 : he don't have to buy.. he got KPI options to exercise.
102640653 : Any update for magical empire n health biz . How they look after yesterday close on chart. Anything good . Alibaba n Tencent n good n stable expect some upward momentum soon on these 2 . Help me see technical on magical n health biz . Thanks appreciate bro
SpyderCall OP 102640653 : for sure. let me check. I'm still holding a few magical empire. but it looks like I might have to hold them for a while. let me check on the technical levels and I will be back to you in a few minutes
SpyderCall OP 102640653 :
SpyderCall OP 102640653 : you can see in the picture that there is still a wedge formation.
SpyderCall OP 102640653 : I have highlighted all of the technical support levels and resistance levels. if we break below the wedge then I would take some risk off the table. and then I would wait for a possible bounce off of the lower support levels. and there would have to be a lot of buyers and volume at the support level before I buy in. I need a lot of volume on the bounce. otherwise I would just assume that it's going to continue down. and if we do bounce off a support level then I would watch that local high. I would watch that resistance level above the current price. I would definitely take some profit off the table there. but if this stock is still running up with momentum I would make sure I hold a little bit more of the position for potential breakout to the upside. but if we drop below the support of this wedge and I would be worried. tomorrow is the end of the week and sometimes our crazy moves. especially when all of these low priced penny stocks and all of the meme stocks are running. and always remember that I am more cautious with these low price stocks so my opinion may be a little biased. with these low price stocks I need a lot of volume at a support level for me to buy in. and the volume has to have already been increasing over the past several days or several 4-Hour candles or what have you. and remember these low-priced runners are tricky. if you buy at the high you might get stuck holding and then you'll get scared out and sell at the low. the trick with these is getting in early.
102640653 : Tencent reports next Wednesday. I expect earnings to be good. Maybe it can run up to about $350 n above in hongkong. Only problem is a share sale by one of its investors. Prior to that news it hit 400 hkd a month back or so . This will run together with baba. Baba daily candle close is a doji . Maybe change in trends . I think accumulation for this 2 stocks should be completed. Best of luck. Thanks
102640653 : Would like u see formations on these baba n Tencent on technical charts. I think u might find something exciting
View more comments...