TSLA Breaks Out

Hi everyone,

I hope you are having a great Tuesday!

In this article I’ll concisely share my thoughts on the day’s action. And share a bunch of stock charts that caught my eye.

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Now let’s dive in ↓

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Market Action

QQQ - another strong day off the open and great close. QQQE also looks good set to breakout

IWO not nearly as strong. bigger caps still leading

Trends 4/4 ( Based on QQQ)

Shortest - 10 Day EMA - Up - Above Rising

Short-term - 21 ema - Up - Above Rising

Intermediate term - 50 sma - Up - Above Rising

Longterm - 200 sma - Up - Above Rising

Group/Sectors % Change from Open

Key Stocks in Deepvue

NVDA sitting on the 21ema

TSLA continues to expand higher. short term extended now but looks like the start of a trend

RDDT breakout, the outside day or reclaim of the 21ema were the best spots

ARM forming a shelf, watching for follow through

APPF responding from the pivot area

CAVA inside day

VST compressed against the 50 day

Market Thoughts

Ideally we see follow through on this breakout on the Qs. A failed breakout would be a negative sign. Big caps AAPL AMZN look goo.

Reminder:

Risk Management is Paramount

Refuse to enter randomly without managing risk and wait for the spots to develop, they will. Stocks during strong moves always pull back to the 21 ema, 50 sma multiple times. Look for a tight and logical entry point.

Have patience, focus on the best stocks with the greatest potential. These will telegraph the rest of the market.

Take it day by day and manage risk along the way. Be ready for anything

What are your thoughts on today’s action? (Leave a comment below)

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Richard


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