Daily Tesla Trade Alert (1/25/24)

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Earnings are in, and they were abysmal!

Q4 earnings were 71 cents a share — a 2 cent miss. Elon was pretty obscure in the earnings call, only telling investors that growth would be notably slower in 2024 than in 2023. The stock was down -8% in pre-market trading.

I’m pretty sure Tesla is going to keep going down today.

The bad earnings call, the 9-day below the 20-day, and the bearish engulfing candle that formed yesterday, all give me more data points to think Tesla will continue to drop.

Yesterday our handed us a 41% winner. So, I’m planning more of the same today.

Trade Idea:

Price Target: $205

Options Contract: 26 JAN 2024 $205 PUT