TSLA recently broke a long term support of $194 this week, one that was first set as a 52 week high last October 2013. It initially broke that high Feb 2014 and rallied nearly $100 to its 52 week high of $291 in September 2014---quite a run. Since then it has tumbled, testing its 200 day MA several times until that finally failed. It performed the kiss of death on 12/24/14 and looks to be headed lower. It broke the 194 support line from 2013 and appears to be headed down to its next support of around $120. The golden cross also occured this week when the 50 day MA broke below the 200 day MA.
I'm going short with a 5% stop, target price $120--trade your own game though.
I'm going short with a 5% stop, target price $120--trade your own game though.