TSLA top ?
Based on the trend-based Fib extension, this could be possibly a near term top in TSLA. Though, I've seen reports of over 800 range, I think there is a much higher risk to reward to take a short position at these levels. I have not fully looked into the volatility ranking of TSLA just yet, but backratio or iron-condors could be viable.
Note that it was a breakout from a wedge, and so it is counter-intuitive to take a contrarian trade here. But I feel this could be a blowoff top (though early to tell). We shall see..
PS: Shorting TSLA certainly ain't for the weak of heart :-) So manage risk accordingly.
Note that it was a breakout from a wedge, and so it is counter-intuitive to take a contrarian trade here. But I feel this could be a blowoff top (though early to tell). We shall see..
PS: Shorting TSLA certainly ain't for the weak of heart :-) So manage risk accordingly.
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.