Tesla stock appears to be rising back up from its previous dip. In April it reached a low of around $244 per share and then rising to a hi of around $373 per share in the beginning of June. Lately it seems to be consolidating and around the $330 price point. The question is what will it do next? Tesla being a well know company you would expect to uptrend eventually and maybe even reach new highs if it beaks its previous resistance.
I personally do not own any shares of Tesla but for those who do the idea of what to do next is probably crossing their mind. I’m sure those that are already invested will hold their positions in hopes that the stock will continue to trend up soon. Those that are looking into buying might be hesitant and wanting to be patient and buy in as it sells off a bit. I would say preference here is going to be dependent upon what your goals are. If you were to buy in now there is always the chance of the price holding where it is at considering it did spike previously when it reached it’s high. Then again depending on news there is always the chance that it could change and go up sooner than later.
This company is one I would definitely like to invest in but it is hard when you don’t always have enough money to buy a good amount of shares in order to see any large profit. Then again, any profit is better than none. If you are a new trader investing in a higher cap stock could potentially reduce the amount of risk you would be taking compared to say cheaper lower cap stocks. Again it will all have to come down to preference and what you feeling comfortable buying into and trading based on your experience.
I myself am trying to be patient. I have been trying to save day trades to give me some more room to work with. I trade with Robinhood so I am limited on day trades because I do not have 25K in my account. I hope to one day. I did purchase Facebook today because it is a stock I would feel more comfortable swing trading because I believe that it will go up over time anyways based on its history. I also do have a day trade left so if I don’t feel comfortable at the end of the day based on the position I took, I can always sell and cut my losses just to be safe so I do not have to hold it over night. Again, for more experienced traders swing trading this stock is probably easy because of it being a very large and well known company. I myself, am still learning.