Hubert Senters here.
Let’s take a look at Tesla, TSLA from trade session. It’s hard to borrow which means it would be hard to short because they don’t have an inventory. Your broker may be slightly different.
Look here nasty little sell-off. Now, the Dow sold off so with Nasdaq pretty much every index is sold off again today. Market continues to get a little weaker, it’s not getting stronger.
It’s going sideways to a weaker side of things. So Tesla did fire off a short today and it does not look good for Tesla if it breaks. Now there’s a support area right here I’m going to put it on the screen out there.
If it breaks this $300 area test is going to drop like a stone so be careful if you are long. Please make sure using the stop-loss if it breaks the $300 area which is possible. It went from $338 all the way down to $317 today so it’s possible it could break it out as early as tomorrow.
We only got one more day in the week. If it does break $300 then the next support area is all the way down here to $246.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.