"Sometimes a chart won't reach all-time highs, and yet I still consider it a successful trade." Nate Bear, Lead Technical Tactician, Monument Traders Alliance I had mentioned Tesla as a trade idea in the watchlist before Christmas. The chart looked ready to rip, and I got positioned believing it could break over $500 for new all-time highs. So far that hasn't happened… not yet anyway. In late December, it touched $498.83, just shy of the $500. For my specific trade strategy, I was in a butterfly spread that made my risk-reward ratio almost nothing. I was risking $19 to make $1,900. Even though TSLA didn't hit the ATH, it still had moved up around 180%. Then… it backed off a little. That's when I closed for a 175% gain. So despite not getting the 200% move I wanted, I still consider TSLA a successful trade. Overall, I still believe TSLA is going to break over $500, and I'll be keeping it on my radar early into next year. Right now it has several catalysts working in its favor… For one, the Ai robotaxi potential has analysts driving its price up. Plus, the company is also due to report earnings in January. So any announcement of robotaxi could be a catalyst. Overall, I believe it's a manifest destiny thing at this point. |
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