Tesla long

89 3 3
I see a good chance that TESLA             will bounce here as most of the negative news is built into the stock. Im not expecting a huge change in oil             that may affect the movement. So here we go:
I would asses a good risk to reward ratio for tesla             or in a lower risk pair trade with oil             . Currently the TSLA/USOIL pair ratio is 4.91. We are at the bottom of the long term trend line in the pair trade and with the bad news piling on we could dip to the lower range shown by the orange trend lines . So, the upside in the pair trade being 58.52% and potential expected loss if the downtrend continues is 14.86%. Therefore, the risk to reward ratio is calculate to be 4 to 1 on a pair trade of TSLA             with USOIL             (58.52/14.86).
For the immediate short term, I would be buyer of TESLA             irrespective of oil             , as negative sentiment is already priced in, and we are at the lower end and the risk ratio is 4 to 1 and oil             is not expected to change significantly in the next month or two.
Adding more shares to long position.
Looking good and moving to the upside.
I think sentiment is still long on TESLA against oil. So, the biggest pop will come in an oil rally. I think even if there is further deterioration downturn in oil tesla will hold up well. Will be a good time to sell and short when euphoria returns with Model 3 hype.
Update with entry points includes with urgency levels:

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