Tesla continues confusing and frustrating traders.
Tesla has been flooded with news over past sessions. Price action is once again frustrating many investors as support levels are held despite predominantly bearish news being pushed. We have written multiple times about how frustrating Tesla can be to trade from fundamental point of view. On September 7th we wrote:
The stock is currently down to the 265 level in pre market. Next significant support level is at 250 should the stock break down lower.
Sentiment is becoming so bearish maybe the stock soon starts reversing up? One thing is sure, Tesla is such a frustrating stock to trade.
Here we are once again, Tesla pushing higher trading at the 300 level. Only a week ago the sentiment felt like the stock was about to break down for real, but the stock simply loves turning on extremes, that goes for both higher and lower moves.
Tesla is a stock that trades without trend within the big range. Trade it accordingly, and don’t get carried away at extremes.
Source: Bloomberg
