TRADING TIPS

Is TSLA Safe to Buy Here?

Hubert Senters here. Let’s take a look at Tesla. I had a question from a viewer Hubert, would you go along Tesla because now has a one day long above the cloud? No. Not really. I subscribed to the theory that everything will rise with the tide and lower with the tide unless it’s an anomaly plus it’s an out wire. And yes Tesla is an anomaly right now. And it’s kind of a cultish following. In other words, a lot of people like even though they burn through cash a lot of people still believe in the company. That’s just my personal opinion. I don’t really care where it goes. But it is a one day buy signal. I would not touch it yet until the market put in a bottom and start to bounce a little because that would give this thing a little bit more traction. Now, if you like risk and you want to trade it I don’t think there’s anything wrong with it. I mean I would probably do stop-loss of $296.A potential target would be around $384. For me, it’s just a little bit too risky with the market taking a nosedive. I don’t see how Tesla could hold up here if the Nasdaq, the Dow, the S&P and the Russell continue to go lower it will pull this thing screaming lower so until that happens I would just avoid it. Mark Helweg and I are going to be doing a special webinar on ‘’How to Potentially Profit from Current Market Volatility’’ by taking small risk for huge Sunday. Come see the monster truck rally. I don’t know why I said that. For now taking small potential risk for potential large gains. The webinar is going to be taking place Tuesday, October 30th at 8PM EST. Obviously, I was joking about the huge massive gains but we’ll be talking about is your risk reward ratios. Make sure you got those things right. And that way you can be wrong more than you are right. And you can still potentially make money as long as you have the right risk reward ratios. Good luck. Hope it helps. Have a great weekend. And I’ll see you on the next video. Hubert.

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