Tesla Inc got slammed yesterday on Thursday’s earnings call. Down 5% right in to support, the horizontal green line. Please note how price traded exactly to support and bounced during yesterdays (Thursday) session.
Tesla Inc (TSLA) daily
If support holds over the next one or two trading days I will add to my position and send out a trade alert.
My line in the sand is the green line. If this support zone fails it would signal a good time to exit the trade and limit losses.
My recommendation to sell short Ford Motor Co (F) is still on.
Ford Motor Co (F) daily
The yellow horizontal line was support prior to price breaking below it. It now is resistance.
Please note how price tagged resistance yesterday, Thursday, almost to the penny.
Price is still under resistance. Resistance is our line in the sand. If price breaks above resistance I will recommend exiting this trade.
Happy Cinco de Mayo!
Trade Smart,
Don Roth