TeslaShort
Tesla Short?
Potential short on tesla -
Technical Confluences
1) Price has closed below the trendline established on daily time frame
2) Price has closed below the 20EMA
3) Momentum is making higher lows
4) Lower Volume
5) Price is making lower highs (NOTE - it is also making higher lows so this is not a strong confluence)
Other Confluences
1) Recall of 50,000+ Vehicles in China should help keep momentum low
2) Mounting criticism of the 'full self drive' mode
Risks
1) Price close below 20EMA was marginal (It may act as support and price bounces up from this range)
2) Earnings smashed estimates (however immediate upside response to this was marginal)
3) Longer term uptrend in the stock
Technical Confluences
1) Price has closed below the trendline established on daily time frame
2) Price has closed below the 20EMA
3) Momentum is making higher lows
4) Lower Volume
5) Price is making lower highs (NOTE - it is also making higher lows so this is not a strong confluence)
Other Confluences
1) Recall of 50,000+ Vehicles in China should help keep momentum low
2) Mounting criticism of the 'full self drive' mode
Risks
1) Price close below 20EMA was marginal (It may act as support and price bounces up from this range)
2) Earnings smashed estimates (however immediate upside response to this was marginal)
3) Longer term uptrend in the stock
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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.
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.