Now that CCI has turned up from -100 and held above -100 for several days, the turn should be at hand and the upside might be limited, especially ahead of earnings due (note on chart) in early November.
Trail you stop at breakeven from here or just take half off and put a stop on the remainder at breakeven.
Either way, I'm cautious here. Buying oversold can be dangerous, but so far, so good.
Tim 3:28PM EST 10/20/2014
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Good question: I'm just trying to get out of this trade ahead of earnings. I've thought to add that "pre-earnings noise" box on the bottom, but could have added the quote that we are in the pre-earnings noise zone. Thanks 2use
This is the "noise" time and time to pull in the horns and have smaller positions - It's been such a good trending stock and reacting to key levels, so I've stayed with it. It's been a great stock technically for a long, long time.
I have my position in TSLA. I don't think the foreign markets watched Elon Musks tweet at 2AM, which I happened to catch since I was awake. I was about the 2nd person to give it a "favorite" ... So I set my alarm for 4AM when overnight trading begins and I watched how it traded (quietly around 224) and could have bought plenty of stock at 224. It was money sitting there for free. I just didn't pick any of it up.