I thought stocks always go up?

GrowleyMonster said:
I think Tuesday will confirm a bottom reversal on TSLA. Could go up for a day, or several days, possibly a few weeks but it won't go as fast and hard as the several weeks previous to this selloff. The invincibility of the stock has been debunked now, and half the fanboys have left the field with their heads hanging low and pockets inside out. Still it may take a broken climb up to $600. I am counting on $538 before elections. I might buy a handful of shares Tuesday if I see a confirmation. The day chart looks good for a rally, along with the hour chart. Look at Thursday's candle... only 23c between open and close. Then yesterday green candle, 110M shares. I would feel more certain if it had touched my lower Bollinger line but it is deep in the lower band and definitely headed toward the center which for me is 9EMA. If you look at the last 5 candles of the 5 minute chart in the post-market, there is a nice trend there. The 1945 candle pushed up through my upper Bollinger limit (2 std. dev.) but did not bounce down in a reversal. It just took a slight downward correction and then ended the day with an up candle and some decent volume. So on three timeframes it looks like if not a safe bet, at least an interesting one. If this was the premarket action I would be buying, with a stop at $383 or so, then moving it up above break-even on the first green candle completely above 9EMA.

Too bad the traders that were pushing tech stops up so high are now going to be as a group somewhat discouraged. It was a hell of a nice run with the bulls. That may be the last one we see like that, before the next crash. Meanwhile this sizeable dip has blunted the edge on the rally but I don't think it has truly ended.
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You do know they added 3 new stocks to the s$p and none of them were tesla. A reason for the run up recently has a lot to do with the possibility of being added to the s$p and fridays news just shut down that whole idea so it will be interesting now to see how tesla trades.
 
GrowleyMonster said:
No I didn't know that. I thought they were on track for addition. Thanks.
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They still could be but s$p adding in 3 stocks and tesla not making it is actually significant news for a stock that is up literally hundreds and hundreds of percent these last few months
 
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