Send Filthy Rich Dirt Poor
To Your Inbox
October 4th, 2022
Will OPEC Help This Company Move Higher?
We finally had a positive follow-through day and have now had one of the best two-day records since March of 2020. It’s easy to get overly excited, but we’re still in a bear market and have a long way to go before we say the market bottom is in. However, this looks like a nice start to a rally from deeply oversold conditions. Keep in mind that going up by over 1400+ points in two days could bring a profit-taking day soon.
Here’s a daily chart of the SPY with potential resistance coming in around $378, $384.50, and $391.
Tesla can be a volatile stock – it’s true, but it does have a historical track record of doing well after Q3 earnings announcements, rising in seven of the last 11 years. With the stock at the bottom of a wedge formation, we could see the stock rip back up to $300.
Speaking of Elon Musk, he has once again proposed buying Twitter (TWTR) for his original offer price of $54.20/share, which was enough to cause the stock to be halted during the trading day yesterday, and it closed up after a 20%+ move. How many of you are in TWTR? Do you think the deal will go through or is this more of Musk wanting attention?
If you have any questions, comments, or anything we can help with, reach us at any time.
Email: [email protected]
Phone: (866) 257-3008
Get notified about new articles, special events, training, and much more
To Your Inbox
Leave your info below to get more options and trading ideas to your inbox
Yes, send me news to my inbox.