$Tesla (TSLA.US)$ looks like we are indeed getting that tech...
$Tesla(TSLA.US$ looks like we are indeed getting that technical pullback I talked about yesterday. Honestly, I won't know how long it's gonna last as NDX has hit a key resistance at 15800 and getting rejected off. The pullback may end as soon as today. Which means we may not get a green Xmas week. We will have to wait and see. But for tesla, key resistance is at 978. So look out at that level. If it doesnt close above 978, it will not look bullish at all and 843 gap fill will happen sooner than later.
You will be better off waiting for a confirmation and not all dips have to be bought because sometimes better dips are right below.
As always trade safe and invest wise!
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SG73514 : Sir, y is big $$ rushing out from TSLA? it will take 6-8months for it to recover ATH again? When it reaches 1200 foresee many will sell off n push it back down to 1000range again.. this would be a rough ride for 2022? TIA
Investing 101OP SG73514: Because big money pump it up from 500 to 700 to 800 to 900. To Dump on retailers at 1200 when they FOMO. This is how money is made. You buy low, when it goes up, emotional retailers will rush in to buy. They dump it on them and that's when those guys are left holding the bag. When you earn in the stock market, someone has to make a loss. It is already in bear market territory. Bullish or bearish, you have to decide. My direction is clear, but you have to decide your own.
102353955 SG73514: major resistance at 1189, no need for 1200
once hit 1189 can sell
THEWIZARD : Great. Looking forward to market open. See if EM sells today, tomorrow and/or Thursday? ...
Investing 101OP SG73514: 6 to 8 mths to recover is being optimistic. But tesla never disappoints in terms of surprise. Usually a stock that enters bear market territory it consolidates for 6 to 18 mths before it recovers. Previous crash on tesla from 900 to 500 was the same, took about 8 months before it broke out of consolidation and quickly pumped to 1200 in weeks.
Investing 101OP SG73514: Do note that it recovered in 8 months with tons of liquidity in the market. In 2022 with tapering ending by the end of 1st quarter and shortly after progressive rate hikes, liquidity will not be like 2020 and 2021. Bear market will be like how it is supposed to be.
102353955 SG73514: just hold dont sell. you sell now you lose
Investing 101OP THEWIZARD: Doesn't matter if EM sells. He is not the one causing this big hit on tesla. It is you know who.
Investing 101OP 102353955: That depends on your strategy. Cutting loss is never a wrong move. But if you are in this for the long run, holding and not realising loss is also not a wrong move.
THEWIZARD Investing 101OP:
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