I sat down at my trading desk at 7:45AM and noticed TSLA was down off of the negative article in Barron’s, near a nice technical level at 98, and I bought it. I shared this with the trading community.
As TSLA started to work from this 98 level I added. I shared this with the trading community in real time.
As TSLA approached my target of 102 I scaled out of half of my position. I shared this with the trading community in real time.
Last week TSLA acted very well and showed me strength into Friday’s close. The Barron’s article provided me with a buying opportunity in a strong stock. When a stock has been strong, buying on a negative news article at an important technical level can provide an excellent risk/reward for a gap-fill trade.
I bought 98 for a gap fill to 102, with a stop below 97. We saw the gap fill today in TSLA for an easy profit.
Perhaps you can learn to make this trade your own.
You can be better tomorrow than you are today!
Mike Bellafiore
long TSLA