Stock Of The Day: Emotions Drive Tesla As EV Maker Finds Resistance At This Level
Portfolio Pulse from Mark Putrino
Tesla, Inc. (NASDAQ:TSLA) has been identified as the Stock of the Day due to its technical analysis patterns showing resistance at the $266 level since July. This resistance is attributed to 'buyer's remorse' where traders who bought at this level previously are placing sell orders, causing the stock to stall or reverse.
October 31, 2024 | 7:13 pm
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Tesla's stock is facing resistance at the $266 level due to 'buyer's remorse', where traders who previously bought at this level are placing sell orders. This has caused the stock to stall or potentially reverse.
The article highlights that Tesla's stock has repeatedly hit resistance at the $266 level due to traders placing sell orders at this price point, driven by 'buyer's remorse'. This pattern suggests a potential short-term downward pressure on the stock price as it struggles to break through this resistance level.
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