The Market 2021

Discussion in 'Finance, Investments, and Careers' started by Folster, Jan 7, 2021.

  1. BigRedRage

    BigRedRage Reckless Contributor

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    Yeah my research into them is very minimal so, good to know they are working on similar stuff. I'm intrigued and should research it as it couldn't be bad to at least dip my toes into it now before it becomes something big. Considering they are newer, merging with another company and yet to sell a single car, it would just be a toe dip but why not if I research it and like their future? Thanks.
     
  2. Folster

    Folster he/haw

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    Ford got a big bounce today after being featured by Cramer last night as an under the radar re-opening stock. It just smashed through your resistance and is at 12.73 right now. Is their new support and resistance now?
     
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  3. dscher

    dscher Registered

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    Technicals on daily charts say yes... If it holds that 12.50-13.00 level then you should have a new floor of support. But these longer term charts can be based on weekly and monthly close of the candle. Daily close is a nice start though. Just keep you eye on these levels.

    Uh, I was off on my monthly close of resistance from 2014. o_O. 13.00 is what needs to be cleared and held on a monthly close. Personally.. I think the chart looks great and it has a destiny/magnet towards that former breakdown area. 10.50 is still a decent level of support below ya.
     
  4. dscher

    dscher Registered

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  5. elindholm

    elindholm edited for content

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    Do you also do horoscopes? It sounds like the same skill set.
     
  6. dscher

    dscher Registered

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    Strangely. Pattern recognition/cycles is the basis for both. That's why the golden ratio can be used in both the zodiac and TA.
     
  7. BigRedRage

    BigRedRage Reckless Contributor

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    decided to start learning about options trading, dipped my toes into two small ones to try it out. Pretty cool and fun. One of them valued at $22 today a 500 stock would have cost me 11k to buy stocks for it but instead gambled about $150 in a call option that can sink or swim. I think I like this a lot more for my non long term stock trading. I hate putting $11,000 into the market unless its a stock I am hyper bullish on for the long term.
     
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  8. BigRedRage

    BigRedRage Reckless Contributor

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    I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

    This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

    edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

    (full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

    upload_2021-3-3_12-31-46.png
     
    Last edited: Mar 3, 2021
  9. dscher

    dscher Registered

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    Screenshot_20210303-131430.png

    Snapshot this one from my phone for ya on a weekly chart since I believe you are a long term holder. Considering this is a weekly chart, it is more powerful than just the dailies or hourly ones, so it gives more clarity for longer term pictures. So, imo, seeing this triangle pattern is a bearish sign for a stock. Typically you will have a break down(which we have already seen) and then the next move will be either that major support at 450ish area near the 50 week ma. (Blue line). Or, we have another run or semi run at that upper trend line before heading back down again. Keep at it with trend line drawing..some of my earliest hangups were with settling for momentum indicators and what not. While useful they are only indicators..the true power of TA lies on the ability for pattern recognition and good simple trend line drawing. Simple for dumb people like myself as well.. ;)
     
  10. BigRedRage

    BigRedRage Reckless Contributor

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    I suck at reading your chart. still too dumb. working on it.
     
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  11. dscher

    dscher Registered

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    No worries. Just, for now, know that you have pretty solid support around 450.
     
  12. BigRedRage

    BigRedRage Reckless Contributor

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    Dscher, slipping a knife into my spine when he gets a chance
     
  13. AZCrazy

    AZCrazy Registered

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    Don't worry about TSLA. They will be a huge player in world commerce for generations.
     
  14. dscher

    dscher Registered

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    Haha. No knife in spine. Just a heads if it gets to that point for a long term holder.
     
  15. Folster

    Folster he/haw

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    Fun facts. Ford has outperformed Tesla over the last 6 months.

    F posted 2020 revenue $127B while TSLA posted 2020 revenue of $31B.

    F has a Price to Sales (P/S) ratio of .37 while TSLA is 24.67.
     

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