$TSLA is displaying an extremely bearish price pattern.
There is a possibility that Tesla will achieve a high of around $470 before dropping. This scenario would complete a diagonal pattern in a B-Wave.
HOWEVER TESLA CAN DROP RIGHT NOW!
Expect a drop into the $250 to $180 range.
There is a possibility that Tesla will achieve a high of around $470 before dropping. This scenario would complete a diagonal pattern in a B-Wave.
HOWEVER TESLA CAN DROP RIGHT NOW!
Expect a drop into the $250 to $180 range.
Comment:
TSLA did not get up the upper trendline fast enough so I did not take the short. I am waiting on the sidelines for other opportunities. Given that Tesla is at new all time highs, there is no reason to short Tesla until it is added to the S&P 500, at which point it may be short trade to look at.