DailyPlay for Tuesday April 10th, 2018 – Tesla (TSLA)

The bearish DailyPlay we chose for Tuesday, April 10th is Tesla (TSLAWealth Strength IndexAAPL is Extremely Up and trending Up). TSLAWealth Strength IndexAAPL is Extremely Up and trending Up is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 4.00% move lower and its 1m and 6m trend have turned bearish on 3/19 while breaking below its $104 support level which now becomes resistance.

Tesla’s 1m and 6m trends turned bearish on 3/14 and recently bounced lower off its $300 resistance level. With a technical score of 3 (out of 10), TSLAWealth Strength IndexAAPL is Extremely Up and trending Up is a weak stock that will likely trend lower.

View this Trade Idea on TSLAWealth Strength IndexAAPL is Extremely Up and trending Up

As a stop loss, if TSLAWealth Strength IndexAAPL is Extremely Up and trending Up was to trade above $300 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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