The hype train looks like it's coming to a stop with the appearance of Elon Musk on Saturday Night Live. Conservatively, I think we drop to the 0.618 in short order starting tomorrow, at the latest. This could fall out to the 0.382 or lower if you give it more than a week. 10:1 R/R looks easy enough if you get in close to $0.65.
Comment:
Don't miss the very obvious bearish divergence (RSI, 16 Apr to 5 May).
Trade closed: stop reached:
This one is priming to run a little more. I still believe in the short, but if we break out, would come from a higher level.