Short:Overbought & lots of "IFs" for this to sustain its growth
I have been observing the charts of Tesla but mostly i have seen that the charts usually dont work with this company. When a company has too many fan boys then it becomes difficult to imagine any fundamentals working.
Neverthless, after gaining 90 USD in a span of 3 days with the news of profitability (which is funny considering the way they showed the profitability in their earnings call), i see that it has run out of gas and also cant sustain this stock growth unless there is some correction.
Short Idea.
Opened short at 335
TP1 - 310
Tp2 - 300
Stop loss - I usually put stop losses but i would actually avoid using stop losses in tesla considering the volatility and the ridiculous way it moves sometimes.
Neverthless, after gaining 90 USD in a span of 3 days with the news of profitability (which is funny considering the way they showed the profitability in their earnings call), i see that it has run out of gas and also cant sustain this stock growth unless there is some correction.
Short Idea.
Opened short at 335
TP1 - 310
Tp2 - 300
Stop loss - I usually put stop losses but i would actually avoid using stop losses in tesla considering the volatility and the ridiculous way it moves sometimes.
Trade active:
TP1 hit. waiting for TP2. I think tesla might recover now and might retest, 320 325 levels. but i wont close my other short for now.
Trade active:
Seems the short squeeze around tesla is intense. although there are currently some good news (china facility, germany berlin facility) as well along with good rumours to skyrocket this stock and thus this reached around 355 recently i believe the downturn will start soon , after the major factors (production mainly) are not met.
Trade closed: target reached:
this trade was closed at 310 but i am updating it today.