Below is a brief note from Hedgeye CEO Keith McCullough on why we're removing Tesla (TSLA) from Investing Ideas today:
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With Tesla (TSLA) correcting another -3.2% today, I think this is a prudent price to remove it from Investing Ideas as it is currently signaling bullish from an intermediate-term TREND perspective in our quantitative model.
When our fundamental research view is bearish, but the TREND signal is bullish, all that means is that we should respect Mr. Market’s message and wait for another #Overbought signal (higher) to re-enter the position. |
