Hubert Senters here.
Let’s take a look at Tesla. This is a 10 minute chart. Obviously, if you’ve seen unless you’re sleeping underneath a rock or something. The SCC is charging Elon Musk with fraud because of his tweet about trying to take his public company private in securing the funding. I don’t care what they do. That’s between them and him.
But it is getting smoked a little bit here to the downside. It’s down $39 after hours. And as you can see this 10 minute chart looks like it’s going to go substantially lower. So if you look at the daily chart if it’s trading at $270 right now. So I’m going to go back over to a daily chart $270 all the way around in here. So that is a little bit of support.
As you can see there’s a support right here, support right here and then there’s one right there so depending on if you’re a longer term player hey, this is a discount you should be minding. If you are not a discount buyer and number one it’s below the cloud on the daily so I would stay away from it.
But if you are trying to just average into position if you think Tesla is going to take over the world then obviously you should buy it here. I wouldn’t. I would wait until I got back above the cloud and I would look at this as another chink in the armor so be careful. Remember Danger, Danger Will Robinson. Protect yourself at all is the name of the game when you’re trading, investing in anything specifically the markets or any other business. And always never trade more money than you can afford to lose.
I’ve been asked to be a special guest speaker at the Wealth365 event, The Ultimate Online Trading & Investing Education Conference. Put your first name, email and optional telephone number, hit that big yellow button and REGISTER. It is free. It’s going to take place October 8th to October 13th, 2018 obviously.
Good luck. Hope it helps. And I will lead you over to the page.
Hubert.
