$Tesla Motors(TSLA)$ $Direxion Daily TSLA Bull 2X Shares(TSLL)$
Just sharing some small profit from trading in Contra account today.
Traded using ticker symbol TSLL instead of actual TSLA ticket symbol because the price per unit is smaller, while price action is the same as TSLA. TSLL works well with Tiger Contra account because Contra account doesn't allow options trading, and TSLA price is too pricey for trading since profit/loss won't be significant.
Entered my TSLL position (at average $9.71) when TSLA retrace back to $275 level, entered too early thus I didnt manage to get a good price point. But I held on anyway.
Currently TSLA is trading within a channel between $270-$294.
If TSLA is able to break and hold $282, we should be able to see $294 as the next resistance. If TSLA is able to break $294, more upside is to come.
Sold half of my TSLL position (at $10.42) after TSLA broke above $282 earlier.
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