This is now the 7th time we bump into the uptrend line. The more times we bump into it, the more likely it is to break. Weekly charts also look unhealthy. Negative divergence on RSI corrrelated to previous highs. This trade is broken if it trades over 710, otherwise it looks like 450 is coming soon.
Also worth noting that Elon has quite a few of his shares margined. I am not sure of the price where this becomes a problem for him (I seem to remember around 400), but it could get spooky if indeed we head to 450.
Also worth noting that Elon has quite a few of his shares margined. I am not sure of the price where this becomes a problem for him (I seem to remember around 400), but it could get spooky if indeed we head to 450.
Note
Also worth noting there could be some selling ahead of tax time -- i.e. "take the gains now to pay last years bill; don't risk it moving forward (and pay a higher tax rate next year?)" type of thinkingNote
Closed shorts and going long here.
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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.