Look, i don't know whats in store for tomorrow. But here is my basis.
judging by the low trading volume today and the huge upgrade yesterday which pushed through $250 resistance has us going to at least the next $262 resistance. Add on top of that this just bounced off of its 20day moving average AND the 50 crossed above the 200DMA last week, I'd say this doesn't show signs of slowing down. Everyone knows the saying, BUY when the 50 and 200 cross to the upside and sell when they cross to the downside.
I really don't see all the reason for negativity, I don't think anyway can say this won't be a $400 stock by 2017, because it will. Also, 34%? So #$%$ WHAT! It went up 200% in 3 months in 2013!!!! 34% is NOTHING! TSLA can easily go up another 10-20% this month alone. Don't be fooled. This is not a good stock to short at this point. I thought once it broke $200 it was going to go back to $120-150 level, never made it below $170-175, before rapidly rebounding above $200 again (
ive been playing the support line. picked up some dirt cheap 600 weeklys this am for $4.45. sold over $8 which is the support line. left some on the table as they a now $12.2. Easy money like i said earlier this week.
by the way, it is forming what is called a bullish down channel. Following the market but holding strong. Even the downgrad didn't help. That was manipulation so they could get some cheap calls.
i will trade using my technicals. you can use yours. so far mine is working. 15% in 2 weeks isn't a falling knife, 40% is, 15% is manipulation, look at the charts, there is no day greater than 2-3% with the exception of earnings which was only 7-8%. it's very systematic. LL, KATE, those are falling knives. better to be safe than sorry for you.
Did it again today, confirmed support. Will not see $500's unless market tanks. Don't see that happening in the next week. Market drops, and rallys back. Hard to short this market. Market would have pulled back now if it were going to, we are in June already. CMG will rally above $620 by next week.
This was an easy trade. FYI a falling knife is when it keeps making big drops (like LL), this is a manipulation downward systematic drop. Low volume, tight trading days, that's not a falling knife.
hit several times and bounced back above $620. This time will be no exception. Market is showing resilience and we could melt upwards. A 50pt day in the dow could easily lead to 1.5% gain in CMG. This is a good entry point, down 10% straight, hit support. time to buy!