Analyzing Tesla’s Performance in a Down Market (Weekend Edition)

In the world of stock trading, Tesla is one of the most talked-about companies. Its unique approach to the automotive industry has garnered the attention of investors and analysts alike. However, with the recent downturn in the market, Tesla’s performance has been put to the test. In this blog post, we will take a closer look at Tesla’s performance in a down market.

In this video, I analyze Tesla’s performance on Friday, February 17th, 2023. The video starts with the host acknowledging that the market is not in favor of Tesla. The company is still in a downtrend, and until it breaks that trend, the host is cautious. However, despite the overall downtrend, I remain bullish on Tesla for the most part.

Unfortunately, Tesla’s performance has been disappointing lately. On Friday, the market opened with a big gap down, and Tesla struggled to bounce back. It was one of the worst mega-cap stocks on the heat map. While I’m hopeful that Tesla would flirt with its price target before investor day, I have to admit that it may not happen. The chart looks ugly, and the moving averages are just crossing zigzags.

Despite the disappointing performance, I believes that Tesla is still a stock worth watching. Its volatility makes it an attractive option for traders, but it also makes it a risky one. I lost money on a recent short-term put spread, but I also had many successful trades.

In conclusion, Tesla’s performance in a down market has been disappointing, but it is still a stock worth watching. I have to note that until Tesla breaks the primary downtrend, investors should be cautious. However, Tesla’s volatility makes it an attractive option for traders, and its unique approach to the automotive industry makes it an interesting company to follow. As with any investment, it is essential to do your research and make informed decisions.