Tesla closed yesterday with a 1.09% decline, but that’s only part of the story. From its recent high just three days ago, the stock has dropped more than 9%, pulling back hard and filling the gap between May 23 and May 27. That’s often a sign that momentum is shifting—and not in the bulls’ favor.
On the volume side, yesterday’s trading clocked in at 81.87 million shares, still under its 30-day average of nearly 110 million, but enough to confirm interest around these levels. The put/call ratio sits at 0.69, hinting that many traders are still positioning for upside—but contrarians might see that as misplaced optimism.
This comes just days after renewed headlines involving Elon Musk and substance allegations stirred uncertainty. (Catch up on that here:ForexLive coverage.)
If you’re just starting out, this is a great learning moment:
Gaps filling can often mean the easy upside is already gone.
Reminder: Trading stocks like TSLA can be volatile. Use stop-losses, and don’t risk more than you can afford to lose. Always do your own research, this is not financial advice and may even include errors (find any? Comment below so we can fix that!). Visit ForexLive.com (evolving to investingLive.com later this year) for additional views.Trade or invest in Tesla stock at your own risk only.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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