Dang, this stuff is hard. Make 6 figure gain in option. Now, should I close and enjoy the profit, then hopefully buy back at the lower price but then really feel like the stock could break and push higher, then I'll live in regret. What to do? Should I stay or should I go? That's a great song to listen to now.
Well, I just made up my mind, lock in profit, buy a...
As long as AAPL is under the 50SMA, it's still under selling pressure. Don't take my word, take Cathie Wood's fund sales post.
Still think it can go lower to $110 or even $100.
Retail traders (after got their stimulus checks) are putting their money in the stock market. They will be the bagholders of big institutions who are getting out. The market signaled that it still wants to go down more.
The bias is up for this week and early next week if it breaks the channel. However, TSLA might still be looking to fill the triangle first until a real break out (valuation is still very high for this year, in 5 years definitely still a good deal). So, good luck guys. Currently holding calls when it touched $560.
Let's see.
Entering bear market but these bears (short-sellers) got their asses whipped in 2020 and frankly, some were fatally injured in #Gamestonk, so the remaining bears might be afraid and tend to take profit that might create a rally before downtrend continues.
Technical indicators are screaming "Sell"
+ Weekly and Monthly RSI looks "ewh ewh"
+ Daily 50MA and 50 SMA are...
Shorts cover some early positions and buyers find support at 50SMA. Price probably continues to rise to $775 or $830 before the second dive. Bulls take warning, the price has crossed 50MA on the daily time frame.
We'll see.
It's probably still safe to lock in profit at this point and wait for break out.
The bias though is bearish (triple tops, exhaustion gaps) both of candlestick and line charts. Bulls are frozen by the coming polar vortex, bears tend to do better in the cold. I put my bulls back in stable and wait for the storm to pass. Will go back out between 500 - 600
The line chart seems to suggest that TSLA is in the bear mood and heading for a correction.
I really hope to catch the TSLA train again at around 500. For now, I just want to lock my profit and stay cool for a while. Like Elon get off Twitter for a while.
As much as I love TSLA, I got to stick with my technical analysis for the next few weeks (probably 6 -8).
Never sell means no profit. Got to sell at some points. And this is my point
Absolutely long it for the year though but time to take profit and buy a tangible TSLA.
Entry target: $550
If I'm wrong, well, I'll just buy AAPL.
Good luck traders.
