Hubert Senters here.
Had a question from a viewer on what I thought about Tesla long. So Tesla looks ok.
So I’ve changed my ADX to a $7. It looks like it’s a little bit better. Let me format it to a $14 here and see if it’s trending both on both.
On a 14 period it’s sideways. On a 7 period it’s working so it’s going to depend on how aggressive you are there. So take that into consideration.
But overall the long selling off into the cloud and then cleaning the STD, the standard line and then the turning line. It’s a good sign for Tesla.
It’s got some limited overhead resistance here at $728 and then up in the area of $767. But if it can climb above that it could potentially go back up here and attack these around the high $800 to low $900-ish.
Overall, it looks pretty good. Markets are kind of weird today like there’s a lot of stuff that’s up.
There’s a lot of stuff that’s down. There’s a lot of stuff that’s sideways. It’s like the indexes are up except for the Russell.
Russell still the weakest one. So when I like being short right now if it had to be. The other indexes they’re trying to run out of gas.
But they haven’t fully done it yet so they’re still struggling gasping for air and see if that I’m going to push higher and then rollover.
But right now the first one to rollover has been the Russell but overall Tesla looks pretty good.
It’s hard to flat this thing. I mean it’s a neat little company. It’s got a cult following. Technicals are telling you it’s a decent long with targets of $730 to about $771.
I’m going to be doing a live webinar Tuesday, August 24th at noon EST. The Mother Of All Bubbles.
You might have to fire off three or four shots before you time it correctly. I’m not short the indexes other than I like the Russell short.
We are setting up to be prepared for when this thing sells off in a correction. I’m not saying a depression or a recession.
I think it’s going to pullback anywhere from 13 to 30 percent within the next 6 months. By the end of the year basically or two months in the next year.
So I’m getting prepared for that and if you want to get prepared with me come join me on this webinar and I’ll tell you all about it.
First name, email address, I’ll shoot you a couple reminder and a couple of texts.
Good luck. Hope it helps. See you on the next video.
Hubert.
