BY LICIA LESLIE
March 8, 2024
Hi Shoppers,
Ever since the last earnings report Tesla (TIcker: TSLA) has been taken to the woodshed.
The stock did its best to close the gap created that day, which it did, and reversed to continued its march lower.
This happens often and offers an opportunity to jump in going in the same direction from which the stock came.
Yesterday, intraday it traded below that last previous low, but it managed to recover and close a bit higher.
Remember, the close is what matters.
Yesterday’s candle created a bullish piercing candle which could be signaling a change in this down trend.
Be sure to wait for the confirmation of the stock trading higher this morning for at least an hour before hopping into the long side.
Use yesterday’s lower as your stop loss.
Trade Review
Alphabet Class A (Ticker: GOOGL) stumbled a bit but recovered yesterday and is still looking higher. Next resistance comes in at $137.92.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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