WATCH THIS BEFORE INVESTING IN TESLA STOCK 2020!

TL;DR

Analyzing Tesla stock resistance at $800, potential overvaluation concerns, and day trading strategies.

Transcript

what's going on team its Ricky with type of solutions hope that you guys are all having an amazing day I disappeared for a little bit so hopefully you guys could see me right on over here this is my TD Ameritrade fingers from platform it's the platform that I use not one that you have to use today we're going to be talking about Tesla stock and how... Read More

Key Insights

• 🥺 Elon Musk's tweet on Tesla's overvaluation led to a 10% stock price drop.
• 🥳 Day trader Ricky emphasizes the importance of focusing on direction in trading for profitable outcomes.
• 🎚️ Tesla historically struggles to maintain trading above $800 a share due to resistance levels.
• ✳️ Risk assessment is crucial in evaluating investment opportunities, with downside risks exceeding potential rewards at current price points.
• 🫢 Natural gas volatility influenced Ricky's profitable day trading strategy with ETFs.
• 😥 Ricky suggests cautious trading approach at critical market points to avoid FOMO and make informed decisions based on clear direction.
• 👥 Joining trading groups like Learn Plan Profit can provide insights and opportunities for learning live trading strategies.

Questions & Answers

Q: Why did Elon Musk's comments on Tesla stock lead to a 10% drop?

Musk's tweet expressing Tesla's overvaluation caused market sentiment to shift, leading to a significant drop in Tesla's stock price.

Q: How did Ricky's day trading strategy lead to profits with natural gas ETFs?

Ricky focused on the direction of natural gas movements, buying and selling based on consistent uptrends and downtrends, resulting in profitable day trades.

Q: What resistance level does Tesla historically struggle to maintain above?

Tesla commonly faces resistance around $800 a share, often experiencing pullbacks shortly after pushing above this level.

Q: What potential risk does Ricky identify in investing in Tesla at $800 per share?

Ricky believes that the risk of downside outweighs the potential upside at $800 per share, based on historical resistance levels and overvaluation concerns.

Summary & Key Takeaways

• Tesla stock is trading near $800, facing resistance levels and potential overvaluation.

• CEO Elon Musk's comments on stock overvaluation caused a 10% drop, followed by recovery.

• Day trader Ricky made profits day trading natural gas ETFs, emphasizing the importance of focusing on direction in trading.