Tesla's Stock on a Bearish Rampage: Short-Selling Opportunity
Current Status
As of the latest data point on July 24, 2023, Tesla closed at $258.17. The Macro PVVM stands at 89.91, indicating a bullish long-term trend, while the Micro PVVM is at 35.25, suggesting a bearish short-term movement.
Recent Trend
In the past few days, we have seen a decrease in both the Macro PVVM and Micro PVVM scores. On July 18, 2023, the Macro PVVM peaked at 110.49, and the Micro PVVM was at 69.10. Since then, the Macro PVVM has fallen by 18.66% to 89.91, and the Micro PVVM has decreased by 49.04% to 35.25. This points to a bearish trend in both the long-term and short-term.
Key Takeaways
Trade Idea
Given the recent bearish signals from both the Macro and Micro PVVM, traders might consider short-selling
TSLA
. However, one should keep in mind the inherent risk associated with short-selling and the current bullish long-term trend indicated by the positive Macro PVVM. It's advisable to wait for a confirmation of the bearish trend by the Macro PVVM falling below zero before considering a short position.
As of the latest data point on July 24, 2023, Tesla closed at $258.17. The Macro PVVM stands at 89.91, indicating a bullish long-term trend, while the Micro PVVM is at 35.25, suggesting a bearish short-term movement.
Recent Trend
In the past few days, we have seen a decrease in both the Macro PVVM and Micro PVVM scores. On July 18, 2023, the Macro PVVM peaked at 110.49, and the Micro PVVM was at 69.10. Since then, the Macro PVVM has fallen by 18.66% to 89.91, and the Micro PVVM has decreased by 49.04% to 35.25. This points to a bearish trend in both the long-term and short-term.
Key Takeaways
- The recent decrease in both Macro and Micro PVVM scores suggests a bearish momentum in both the short-term and long-term trends for
TSLA
.
- Although the Macro PVVM score is still positive, indicating a bullish long-term trend, the fact that it is decreasing should be taken as a warning sign.
- The Micro PVVM score is positive but is trending downwards, suggesting a bearish short-term movement.
Trade Idea
Given the recent bearish signals from both the Macro and Micro PVVM, traders might consider short-selling
TSLA
. However, one should keep in mind the inherent risk associated with short-selling and the current bullish long-term trend indicated by the positive Macro PVVM. It's advisable to wait for a confirmation of the bearish trend by the Macro PVVM falling below zero before considering a short position.