TSLA New Position
I’ve been in TSLA for my children for the last few years. I buy shares each month in a Loyal3 account, which allows fractional share ownership. While I’m up quite a bit on the name for them it is more for an educational experience and my way of sparking interest in the markets. Their primary investment vehicle is an index fund but I can’t ever really look out the window and go “Oh kids, look at that sharp S&P 500 driving down the road.” My interest in this game was sparked by my first gift of McDonalds stock and the coupons I got with each annual report.
Nonetheless I’ve been watching this name since its most recent failed breakout. It seems like this tuck is a good point of entry. The tricky part for me is I am anticipating a pivot so I don’t really have a clear stop level, thus I have no real defined risk and can’t truly calculate my share count. With this in mind, I am starting the position with 20 shares. My goal will be to re-evaluate when a real pivot sets in and add or substract shares when the stock breaks out of this multi-year range. I have not ever taken this approach yet in this portfolio so it will be interesting to see how it works out. As an aside, I would NOT hold this stock if it broke to the downside of this wide channel.
20 – TSLA @ $249.91
Click to enlarge