TSLA Trade on May 5, 2020 09:33 from J_Matrix: Tradervue User Stock Trades.

-TSLA had a phenomenal ER reaction on April 29th and it shot up very extended due to it. The next 2 days after the ER we see the stock pull back as buyers took profits and also have Musk Twitting a storm. However, after the 2 days of pull in we see TSLA hold a key support at 700 and had a massive rebound day yesterday which lead to the stock closing super strong and also gapping up premarket today. My initial thesis is for the opening gap fill dip and rip. The Gap up was a bullish retest gap.

-I'm looking for a 2nd day continuation buying momentum. The stock hit a premarket high of 792 and I was looking for the break out momo buy from there.

-I'm also looking for the opening dip down to yesterday's highs and hold for the long from 762.

-I took the premarket high B/O and it worked right away. By 934 and 935am, price action and the tape was strong and confirmed which added to my conviction. However, the spike failed a few minutes later, and I wasn't able to let go of my conviction on the bullish side early. I added on dips and sold on pops to maintain and manage. I eventually gave up on the idea when the opening morning low was breached at 950am.

-After dumping my bullish sentiment, I quickly reversed and shorted the break down of the morning lows. Gained 7 points on that short but it's barely 1% of TSLA's price. Not even close to 1 ATR and a V formation happened indicating a trend reversal soon. So I covered flat. 950am

-I waited for the reversal to settle and tried to long it twice at support, stopped out both times. 1020am

-Once again failing on the Bullish side, I looked at the tape and it was really heavy, I shorted the 770 whole breakdown. The trade was good lasting only for 5 points before yet another reversal to the upside. 1036am

-Because of the 765 reversal, I tried for the 3rd time of the day longing again following the macro trend. The buying was stopped short at 780 and the stock was unable to continue up. I tried twice and got stopped out twice. 1102am

In conclusion. TSLA did follow the rule of the Bullish Retest gap by holding above yesterday's high's for the whole day. However, there was never any real buying momentum to be had on the chart and I was mentally exhausted from trying 3 times on the day and failed on all 3 tries. That's when I gave up on the day and called it in.

Shares Traded:360
PNL: -19