1. Tesla rallied back to the where the mode at 260-262 failed to hold on the way down.
2. The CCI is also very overbought at +170
As a 3rd point, totally separate from the chart, The KIA Electric Car seemed very impressive at first glance - the price (Under 30K net of rebate, Range was low at 100 miles, And speed of charge was fast at 80% charge in 30 minutes).
Either way, this was a decent "oversold rebound" trade and this is a decent place to exit.
Tim 4:25PM EST 260.62 last (THIS IS AN EXIT LONG - BUT I WANTED A RED TRIANGLE ON TOP OF THE CHART - So I have to put "SHORT")
Comments
moorekapital
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Erstwhile Support, Once Broken Into Turns Resistance.
DemianThomas
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so you exited off of a long position but you are not shorting TSLA?
Its getting resistance it at the broken trendline, news on the 9th and then a retrace back to 220? What do you think?