Short TSLA $1026.96. TSLA failed to break out last high of $1200 area. Price rejection at 50 SMA [green dashed line]. Short target of $900 is in play now marked in red dashed line. Expect $1100 area to play resistance in coming days in case price bounced off of $900 area. Breaking support of $900 can take stock down to $750 area where it was trading before break out. Setup is invalid if price breaks above $1100 area and stays there on daily close for few days in row. Earning expectation/news will also play part in price action and invalidating this setup.
Transaction en cours
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Going as per plan. Let's wait and watch
Trade fermée: cible de profit atteinte
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TSLA trading below $900 mentioned level. I believe more down side coming. Will publish new chart soon.
Would never straight up short TSLA unless intraday or with CCS. But if you do, keep a tight stop/loss. Just my thoughts. I like the levels though.
mtthurley
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Also keep in mind you haven’t broken the bull flag and you have an inverse head and shoulders playing out.
QuickTradePro
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I understand, shorting TSLA always brings lot of scrutiny but right now that's what price action is telling me. Maybe you are right on inverse head and shoulder pattern. Breakinh above 50 SMA would be a big challenge given Feds are shrinking their balance which means low liquidity.
chicckienuggs12
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Hasnt met the target of 900 yet. but it will soon by EOW.