WTF Chart of the Day:TSLA Afterhour

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Tesla (TSLA), reported Q1 earnings after the bell today, surprisingly squeezing $16 million dollar profit. Beat the street estimates of -.36 a share by reporting 1.24 EPS with revenues of 5.9 Billion. The company has negative free cash flow of $895 million. Of course, like most companies, Tesla walked backed guidance for deliveries because of the COVID-19 Pandemic. Instead of maybe going up a few bucks, it went parabolic in the after hours session. Take a look for yourself at the 2 minute chart above. Elon Musk went on a profanity ridden tirade in the earnings call, slamming the shelter in place orders in the Bay Area.

Have a listen yourself here: Tesla Q1 Earnings Call





Disclosure: This is not intended to be investment advice. Entertainment purposes only, please do your own due diligence before investing. I have no position in the above stock.

New Traders: This Sums It Up

Silver Futures Outlook

In regards to precious metals, I haven't traded them since last summer where I was too early on a trade so my caution is if trading options and buying calls/puts, please buy yourself enough time. I believe silver could retest the $13 level before heading higher. It was extremely oversold on the RSI, but the MACD cross was as clear as i'd like to see for continuing upward. I expect silver to consolidate around $13.00 and then continue upward over the next several months. I will be looking to buy calls on the SLV ETF when it is below 12.50.