The Long Investor

$TSLA TOP 20

Added 2024-09-08 17:04:11 +0000 UTC

$TSLA had a very tricky week for trader, the price had initially broken out of the wedge and above the 50 Day MA at $220 but on the retest of the level, it fell very strong, catching a lot of traders out who jumped the gun too early and did not wait for the retest.

It goes without saying how I feel about the importance of waiting for a retest and confirming a support level, it is one of the most discussed topic in our group and its vital that we understand and most important wait for the retest

I am at a level where I would rather let a stock run then chase it without giving me a retest, it is that important to me.

Either way, an ascending triangle has formed now, which is not a great look but bulls can very easily get this back up above the 50 Day MA and trend line

But I will not be bullish on this until I see a hold of support above $220, it is just too risky to call right now.