OneTrueSloth

TSLA bearish bat

NASDAQ:TSLA   Tesla
There is a bearish bat pattern formed on TSLA, and the reversal to the downside has already begun. There is a gap to fill (low resistance area) which would bring the price down to a 50% retrace of the previous uptrend (C -> D). The risk/reward ratio is not quite good enough for a short trade setup, in my opinion, but it might be wise to close long positions until the bearish price action plays out.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.