TSLA's euphoria after announcing a good set of earnings were short lived last Thurs as it quickly gave up all the gains by day's close. The next day the reason became apparent as it announced that it had to recall 30,000 cars in China for suspension issues. The share continued to fall until it hit into a possible trendline support @ 408 (incidentally also the 50% fib retracement of the recent swing up) before staging a small rebound to close a small pin bar.
As long as the trendline is not breached, the bigger uptrend is pretty much intact. However in the near term, presidential election jitters could mean some volatility risks ahead..
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
As long as the trendline is not breached, the bigger uptrend is pretty much intact. However in the near term, presidential election jitters could mean some volatility risks ahead..
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.