Castle Confirmation: Discuss how the worst-case scenario for Tesla appears to be materializing, as indicated by the Castle pattern on the chart. Explain the Castle pattern and its significance in technical analysis.
Bearish Outlook: Highlight the bearish sentiment surrounding Tesla's prospects, citing factors such as the ongoing struggles in the crypto market. Explain how the crypto market's difficulties can trickle down on Tesla's performance.
Impact of Strong Dollar: Analyze the implications of a strong dollar on Tesla's operations. Discuss how a stronger dollar can potentially limit Tesla's global competitiveness and impact its bottom line, leading to negative market sentiment.
Defensive Measures: Explore the measures the dollar takes to defend itself against the threat of devaluation through various monetary policies. Discuss the potential consequences of these defensive actions on Tesla's profitability and market outlook.
December's Silver Lining: Express optimism regarding potential improvements in December. Discuss any upcoming events, economic factors, or market trends that could potentially turn the tide in Tesla's favor. Emphasize that while the current situation may seem challenging, the landscape could change by December, offering a glimmer of hope for Tesla investors.
Trade active
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Soaring to New Heights: Navigating the Turbulent Rotor while Riding Tesla's Momentum.
In the trading world, experiencing a soaring rally can be akin to riding the back of a mountain. Just like the turbulent rotor that challenges a soaring pilot, short-term fluctuations in Tesla's chart may be unsettling. However, it's crucial not to hastily exit the trade, for beyond the chaotic waves lies the potential for a smooth, laminar wind of opportunity. While the current market conditions may seem challenging, it's essential to stay focused, assess the bigger picture, and be prepared to weather the storm, as December may hold the promise of calmer and more favorable conditions.
Comment
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Despite a recent upward surge in the market, our short position on Tesla (TSLA) remains active and justifiable. After topping out and exceeding the back-out range, the stock has discovered a new high point, which could indicate a potential downside. As it stands, the short position has not yet been closed, signaling a further downturn. If market sentiment turns bearish, this could prompt a downturn in the stock. This, in turn, could strengthen the US dollar. The market seems to exhibit signs of weakness, suggesting the potential for a downside later today. Therefore, the short trading on Tesla is still in play.
@j00jzerz, Thanks for your response. It's correct that Tesla (TSLA) does not currently pay dividends to its shareholders, and instead reinvests profits into areas like research and development to fuel its growth. I understand that dividend payouts may not be a priority for all investors, especially with growth-oriented tech stocks. However, I'm curious if there's more to your comment - your laugh suggests you might have additional insights or a different perspective on this matter. Would you mind elaborating?
jackohgorman
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@SoaringWave, I think it's just because you are only using fundamental statistics to support a technical and wave analysis.
SoaringWave
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Still open from 300 and coming to 216 out for the breakout zone.