Yesterday, Q1 earnings call. Stock misses earnings by 30% on already reduced expectations of 0.38. Had it been earnings expectations from a week before (which was 0.434), it would've missed by around 45%.
Still, the stock manages to rebound from mid 220s up to 257 in a single day (around 10%). It's impressive, but still looms a ceiling just up ahead (258-260) which I think is the perfect opportunity to short. Will be invalid if it manages to push up above 267.6 which is the local resistance line and a major historic resistance also.
That said. I think the odds are good in shorting around 258-260. Expecting a fall towards low 200s and even towards high 170s.
Still, the stock manages to rebound from mid 220s up to 257 in a single day (around 10%). It's impressive, but still looms a ceiling just up ahead (258-260) which I think is the perfect opportunity to short. Will be invalid if it manages to push up above 267.6 which is the local resistance line and a major historic resistance also.
That said. I think the odds are good in shorting around 258-260. Expecting a fall towards low 200s and even towards high 170s.
Trade active
Tesla did react on the top trendline. Initiated position TSLQ at 33.67. Hope it did what it did. No narrative change for a few weeks maybe. Trade closed: stop reached
Stopped out.
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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.