I had a viewer ask me what I thought about Tesla. As of yesterday I would have said it looked sideways, like it wasn’t doing anything, but today it broke out. As the rest of the market went down, it went north.
Looking at the ADX, Tesla is still non-trending (although the ADX can lag). The ADX bottomed out around 9 and it’s now heading back toward 20. You’re probably okay to get on Tesla with a tight stop loss and a target at the most recent highs. After that it will probably go higher.
Next targets for Tesla would be 500 and 518. Right now it’s trading at 486.
Good luck, hope it helps. See you on the next video.
Hubert Senters has been online trading for the last 10+ years. He has a loyal trading community consisting of over 100,000 traders. He’s helped his followers easily understand trends and spot better entries and exits to maximize their profits.
He and his team of experts analysts have been featured guests on CNBC, Bloomberg, Fox business, CNN, CBS Market Watch, Forbes, The Street, Active Trader Magazine, Stocks and Commodities Magazine, Money Show and Traders Expo.
Hubert is best known for his No BS approach to Active Investing and Trading making his style both effective and simple.