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How to trade Tesla and Walmart
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As Tesla and Walmart gear up to release their earnings, Trader Serge Berger shares his views on how to trade these stocks.
Tesla
1. Tesla had a big rally over last few weeks, especially following recent talks with Apple. Serge says he's always skeptical when a stock rallies this much into earnings, so that's something traders should keep in mind.
2. Serge plans to wait until after the earnings are out and for the stock to give some consolidation signal. He wouldn't chase it higher at this point.
3. In terms of levels, he says that USD 200 is the medium-term support but there's no upside resistance as the stock is trading at an all time high.
Walmart
1. Serge explains Walmart is a consumer staple stock and that it's "not very exciting" from a trading point of view, but it does offer opportunities as it's often quiet range-bound.
2. In terms of levels he says support in the medium-term is around USD 72 and resistance is around USD 76.
Tesla
1. Tesla had a big rally over last few weeks, especially following recent talks with Apple. Serge says he's always skeptical when a stock rallies this much into earnings, so that's something traders should keep in mind.
2. Serge plans to wait until after the earnings are out and for the stock to give some consolidation signal. He wouldn't chase it higher at this point.
3. In terms of levels, he says that USD 200 is the medium-term support but there's no upside resistance as the stock is trading at an all time high.
Walmart
1. Serge explains Walmart is a consumer staple stock and that it's "not very exciting" from a trading point of view, but it does offer opportunities as it's often quiet range-bound.
2. In terms of levels he says support in the medium-term is around USD 72 and resistance is around USD 76.