TSLA Potential Bounce Zone

3 sept. 2020

Hey gang! I know I just posted a note over the weekend that was pounding the table for getting short tesla, and it turned out to be the right move - the stock had just gone too far in too short a time. While I think this company is still a mess from a financial / fundamental valuation standpoint, I do think the stock could see one final leg higher. The only question then, is to figure out where to be a buyer. I like this name ~380. It's the 50% Fib retracement level from the stock split announcement, and it's also the basis point in the center of the Bollinger band area. Again, I think this has the potential for one final move. Soemthing to have in mind when trading this. Time will tell!

4 sept. 2020

Transaction en cours

My buy order at 380 was hit this morning, and I'm now long TSLA. I don't know how this will play out, and so i'm just waiting and watching carefully for any signs of the second top.

5 sept. 2020

Trade fermée manuellement

Closed this trade at the close yesterday around 420. Between this and the short I had on from 510, I'm up like 25% on this name in just a few days, which I'm super happy with. I think it will be a lot of chop for a some time, so I won't be trading it much in the coming weeks unless something crazy happens.