A Picture-Perfect Trade

It’s always a great thing when a trade plays out in picture-perfect fashion. [Jeff Clark's Market Minute]( Andrew’s Note: Andrew Miller here, managing editor of Market Minute. Before we get to today’s essay, I want to make sure you’re aware of [Jeff Clark’s urgent presentation tonight at 8 pm ET](. Jeff’s discovered a way you could get paid every day the stock market is open – 252 chances a year. All it takes is one simple trade, per day, on the same ticker over and over again. [To register now, sign up here.]( --------------------------------------------------------------- A Picture-Perfect Trade By Imre Gams, analyst, Market Minute It’s always a great thing when a trade plays out in picture-perfect fashion. That’s exactly what happened with this incredible opportunity Market Minute readers first saw on [April 27](. At the time, I had identified a great trade setting up in Tesla (TSLA). This was well before the company would go on to announce record-breaking deliveries of new cars on July 2. On April 27, TSLA was trading around $152 a share. The upside target I had identified called for a move of at least $113 higher, which would put TSLA around $268 a share. Recommended Link [Elon Musk’s bone-chilling warning to Americans]( [image]( His warning never made the front page news… But Elon Musk is sounding the alarm on a surprising development that could – as he puts it – spell the end of civilization as we know it. It has nothing to do with green energy… AI… or technology. And it could affect every man, woman, or child in America – starting this summer. [Click here to see the full story behind Elon Musk’s warning.]( -- That’s certainly a big move, as it would mean about a 75% increase in the company’s share price. Such big moves usually take time to develop, and this trade was no different. It took almost two months for TSLA to hit its target. On June 20, TSLA traded through the $268 price level, reaching my upside target. That’s why it’s now time to book a great gain on this trade and wait to see what happens next. Here’s an updated chart of TSLA below so you can see how this trade played out and why it’s wise to be taking a cautious stance right now. [(Click here to expand image)]( There are two important features to this chart. First is the overbought reading in the Relative Strength Index (RSI) the stock registered as it hit its $268 target. This overbought reading tells me that upside momentum in TSLA may have reached an extreme and could start selling off. You can see how this happened back in February when the RSI also reached overbought conditions. The second important feature is how TSLA has now hit the upper boundary line of the parallel channel drawn on the chart. This trend line could be seen as resistance by the market and prices could stall against it, again leading to a possible sell-off. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. While it’s certainly possible that TSLA has a lot more exciting upside to it, it’s not out of the question that we could see another considerable sell-off first. The key is to wait now for the market to tip its hand. No stock just goes up forever without pulling back along the way, and TSLA isn’t an exception. As the stock is reaching technically overbought conditions, it’s prudent to take our winnings and wait on the sidelines to see what happens next. Good trading isn’t about squeezing every penny of profit you can from a trade. It’s about capturing the meat of a big move. The only way to do that is to be patient. Trading shouldn’t be an adrenaline rush. If it is, I can virtually guarantee that trading will be the most expensive hobby you can ever have. Happy trading, Imre Gams READER MAILBAG Did you establish a position in Tesla? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Sell Every Stock Except ONE (ticker revealed)]( Jeff Clark predicted the crashes of 2008, 2020, & 2022 – helping his readers dodge huge losses. He then helped double his readers’ money 13 TIMES in the last year alone… But after watching his OWN 23-year-old son lose -60% in risky crypto & tech stocks… Jeff is finally coming forward with his biggest WARNING yet. Jeff says: “Sell Your Stocks BEFORE The Stock Shock!” [Click Here to See Jeff’s New Warning.]( P.S. – Jeff refuses to watch his own son lose any more money in risky investments. 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