Down On Tesla Stock (What’s Next?)

TL;DR

Ricky updates on Tesla stock, buying more shares as it consolidates near 805 resistance. Also watching GoPro and Kroger for potential trades.

Transcript

hey what's going on team it's ricky with tackle solutions tesla is down a little bit based off of where i bought yesterday i wanted to provide you guys with a quick little update and also another stock that i'm paying attention to i hope that you guys enjoyed this video and if you guys do please don't forget to subscribe to the youtube channel as i... Read More

Key Insights

• 🎚️ Ricky closely monitors Tesla's movements, adding shares during consolidation near resistance levels.
• 🫥 He emphasizes the importance of watching for breaks above the EMA line and below the SMA line in determining his trading strategy.
• 🧘 Ricky's approach involves being selective in trades, waiting for confirmation of uptrends and reversals before entering positions.
• 🥳 He shares his trading strategy of holding a set number of shares in Tesla while day trading with different dollar amounts.
• 👀 Ricky's focus on technical analysis guides his decisions in trading GoPro and Kroger, looking for potential breakouts and reversals.
• 🫵 He encourages viewers to actively participate in the trading discussion by suggesting stocks they see value in.
• 👥 Joining trading groups like Learn Plan Profit can provide valuable insights and opportunities to learn from experienced traders.

Questions & Answers

Q: What is Ricky's current strategy with Tesla stock?

Ricky plans to hold 250-300 shares of Tesla, adding to his position if it breaks above the EMA line and reducing it if it breaks below the SMA line.

Q: Why is Ricky watching GoPro and Kroger for potential trades?

He sees potential in GoPro's rebound after an earnings dip and in Kroger's consolidation and signs of reversal, leading him to take light positions in both.

Q: How does Ricky approach trading reversals in stocks?

Ricky looks for support levels, consolidation, and signs of an uptrend before taking a position, adding more as the stock continues to show strength.

Q: What advice does Ricky give to viewers about being selective in their trades?

Ricky advises viewers to wait for confirmation in the direction of a stock before entering a trade, especially if they want to avoid potential losses from buying in too early.

Summary & Key Takeaways

• Ricky provides an update on holding and trading Tesla stock amid consolidation near 805 resistance.

• He shares his strategy of buying more at lower price points and reducing position size if Tesla breaks below the SMA line.

• Ricky also discusses potential trades on GoPro and Kroger based on technical analysis.