NASDAQ:TSLA pops after hour on news, running up to as high as $246: "General Motors will follow crosstown rival Ford Motor in partnering with Tesla to use the electric vehicle leader’s North American charging network and technologies."
We often see stocks pop on news, which gives us a chance to fade the selloff. Beware, just as you should not try to catch a falling knife, you should not try to hold down a rocket ship. That's why I give a short time to declare itself.
NASDAQ:TSLA is pushing into the daily supply between $227-$237 from back in 11/2022. If buyers cannot hold, we have a long way down for the rest of the year with good risk to reward.
Buy time. An early entry is below $233.44 which is proven support/resistance and a sure confirmation of seller strength is a daily hold below $228.36
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That confirmation to enter short with a daily hold below $228.36 never came. Will revisit!
@michelschuit1, ah yes. very possible. If that becomes the case my trade setup here becomes invalid.
michelschuit1
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Mayby then will be a good fade play its over extanded but can go a bit more crazy market after hours its up also 15 points away from 260 I got burnt a little 😂😅