TSLA looking like a bull trap in the short term
TSLA currently trading under the 21MA and technicals not looking great. Also, bad news have been coming out on their steering wheel and if it gets recalled, that will be bad. I could see a fake pump back to the 21MA before dropping more. Seeing it hit $255 by the end of week and maybe $240 next week if no good news occurs.
Trade closed: target reached
nice bull trap today. Traded up to $259.52 before breaking down to as low as $250.50. I see it trading range bound tomorrow unless SPY breaks below its 21MA. Also, depending on how AMZN and AAPL earnings goes, Friday action could be dependent on those BIG earnings report.
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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.