$TSLA sold off -3.39% today on below average volume.
Not surprised given the TD Sequential flashed 9 last week with a doji candle printing, signaling a quick pause.
The trend is still bullish, the year end chase is in progress, the Fed is cutting rates this week, and everyone is bearish.
Just keeping in mind of the incoming narrative risk on slow growth and EPS declining from ZEV credits expiring.
This could be setting up for distribution of shares and lead to the re-accumulation phase as it’s hard to see a sustained rally above $500 without earnings growth.
We continue to trim calls to reduce risk while holding all shares.
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- Neexio·12-09TD setup's spot on. Keeping core shares but trimming calls makes sense here. Patience pays [抱拳]LikeReport