Watching Tesla’s Latest Move

Posted by Joe Duffy | Mar 3, 2023 | Joe Duffy's Trading Advantage | 0 |

Thanks for reading. As I mentioned I am going to be sharing some of the moves in the market that have caught my attention and give you some of the context around why I am keeping an eye on them. Seeing key strategies and patterns play out is a super way to gain a better understanding of how they work and how you can hone your pattern recognition skills.

Tesla is a marquee stock and yesterday’s drop put it on our radar. Here is the chart and the key points:

TSLA week thus far is in a failed rally/ breakdown/ and has failed to participate in Wednesday recovery.
All this points to a bigger picture still lower for the broad market.
Market has so far lacked buyers, rather than having convicted sellers. That subtle difference is evolving. Therefore in March expect increased volatility and lower prices.

We are going to keep an eye on TSLA and watch for ideal trading opportunities.

Thanks,

Joe

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Joe Duffy

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