Shares of Tesla, Inc. TSLA are trading lower Monday. But they continue to be in a sideways trend.
A classic ‘Flag’ pattern may have formed on the chart. If so, it could be bullish for the shares and suggest the recent uptrend may soon get back into gear. This is why we have made it our Stock of the Day.
Many traders and investors were surprised and confused when Tesla rallied after posting disappointing earnings. They didn’t understand why the stock moved higher. But it was simply the result of supply and demand.
Because the numbers were widely anticipated to be bad, people sold or shorted shares before the release. So, by the time the earnings hit the tape, everyone who wanted to sell had done so. The market had run out of sellers.
And…
