Tesla ($TSLA) double-failed two resistance marks at 820 and 807. The former of these really seems to be a short-term upper limit for $TSLA. Nearly each time it tests @ 820, it proceeds to have a variation of failure: The short on this is not wildly profitable, though absolutely still in play. $TSLA has shown promise enough, absolutely, but the bears seem to be right in some respects that this is a stock with a ceiling that Elon Musk himself has already alluded to.
Takeaway:::: If shorting TSLA, expect a very minimal gain. It is showing the first signs of stability in months, with that 820 resistance mark proving to be a real cap for Tesla in general. A potential dip to the previously cited trough @ 750-765 is not inconceivable, but this is now a pretty low risk short for the most part.
Takeaway:::: If shorting TSLA, expect a very minimal gain. It is showing the first signs of stability in months, with that 820 resistance mark proving to be a real cap for Tesla in general. A potential dip to the previously cited trough @ 750-765 is not inconceivable, but this is now a pretty low risk short for the most part.