From 2017 to 2019, Tesla was trading between the range of $180 to $400.
All that changed when it broke above $400, then went to $500, then $600, then $700, then $800, then $900, all within the span of a few weeks. Will it hit $1000 next?
In this video, I explain my reasons for buying Tesla stock, how I screwed up the trade, and how you can tackle parabolic charts such as this.
Enjoy the video, and remember to “like” and “subscribe”!
Tesla recently posted a cash balance increase to $5.3 billion and reported a profit of $1.86 per share, shattering analyst expectations for a loss of 42 cents per share.
Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created.
Looking at the chart of Tesla, we can see that it traded between the range of $250-$390 for almost 2 years (mid 2017 to mid 2019), before breaking to test a major support level at $180.
From there, it has made a strong recovery, with a whooping 70% gain from its June 2019 bottom.
Now, prices are close to $300, and it looks poised to test the highs of $390 again.
I will continue to hold and look for opportunities to accumulate more again.
Next week, I will be giving a free seminar at Kim Eng Securities, and I will be sharing more about my unique method of behavioral analysis to time the markets. The title of the talk is “Behavioral Analysis: Reading the Mind of the Market”. I will share how anyone can time any market simply by reading human behavior.
After having given numerous talks and having been interviewed by various media such as SGX and the Business Times, I am glad and grateful for the opportunities to share this new revolutionary methodology which I hope will change the way people view the markets.
For all those new traders out there, this is a great opportunity to pick up some new skills for trading and investing. Since this is our first time working with Kim Eng, I will be trying something new and exciting, so this is definitely not to be missed!
This will be my last event before the Chinese New Year, and I will flying off to Cambodia for a couple of days immediately after this event, so the market outlook segment will be crucial for the upcoming days.
This event will be exclusively for selected Kim Eng clients and readers of my blog, but seats are very limited, so sign up early to avoid disappointment. (Our previous event sold within 2 days.) https://www.eventbrite.sg/e/behavioral-analysis-reading-the-mind-of-the-market-tickets-9987493863?ref=ecal
