I want to look at Tesla ( NASDAQ: TSLA ) because I think this is close to breaking out. I will just say this, this is a pretty easy video; it could take me another 10 seconds.
If the stock breaks out above 1700.00 that’s when you want to buy this stock. And then you just kind of keep a fairly tight stop on it because this is a high momentum stock. When it moves it moves fast and it’s really gappy like it is here. I will wake up in the morning and look at my quotes and go, “My God, Tesla ( NASDAQ: TSLA ) is up $90.00,” or something like that.
So just watch this stock; as long as it’s in this range, 1400.00-1700.00, I think you just range trading but you just don’t expect a whole lot. But once this breaks out above 1700.00 this could run to 2000.00 pretty quick. Remember, they are splitting 5-for-1, sorry, I forget what day they are splitting; I think it’s right at the end of the month.
This is a stock I believe that is ultimately going higher, I just really do. I would wait though, you are saying, “Oh well, I will buy it before it breaks out above 1700.00 and make $50.00 more.” Well, you don’t KNOW that it’s going to break out at 1700.00. I am just some dude that you have never met who’s telling you that if it does break above 1700.00, buy it. I am not telling you it will so don’t base your trade on something that you think I am saying.
I see people do that all the time. I actually see people giving other traders grief about some stock that they posted on Twitter a week or two ago. And they say like, “Boy, you suck. I lost money on your “pick”. And I am thinking to myself, did Twitter initiate some big subscription fee that I don’t know about, where all of these people are paying money to get stock picks from some dude with a handle like @onehotstockornot? So don’t take anybody’s word for anything.
Use your own methods, but with that said, IF the stock trades above 1700.00 that would be the best time to be buying the stock.