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Short

TSLA: Distribution Incoming?

BATS:TSLA   TESLA INC
331 8 1
Longer term resest of 140 looks likely.
Not going to happen without a negative catalyst.
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I do not believe any big correction is possible before the Conference Call in February. They have so many thing waiting for CC: China result, battery factory with other big investors(we do not know who it is and this may be a big surprise ). Openings in Europe: France, Italy, UK. News about Model X and Model E, scaling up the production in 2014 and more and more and more... Fundamentally speaking there are so many buyers who are willing to grab more shares before CC that they will not allow big drop in the price.
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140 level has been head faked and tested 2 times after that, what makes you think will come back down to 140 again? I think by the chart and volume the trend is pretty clear....unless there is a fundamental reason graphs is showing the highs and make certainly new ones
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What leg are we currently, retracing? Why did we bounce at 120? Head fake does not exist. We are currently distributing at our previous leg start. MOMO is starting to shift. While we could retest 180-200, MOMO is def slowing. We've already failed at this resistance, which is why we are retracing it. 153 if probably a more realistic shorter term target. Obviously, I wouldn't want to breakout of this 170 range before getting short.
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BEI TradeVulture.com
I can definitely see 153-157 soon.

When i am referring to the "head fake" i am talking about a larger time frame. i can read that latest price action on that 120 bounce as a failed breakout of significant monthly support of 135-140, the fact that it immediately went back up this level with Big candle + x3 volume is mega bullish, and considering the previous pattern from lows to 200 on higher time frames i can only assume, by my experience that this is going back up to 200. And this is without talking about the latest green candle that went from 140 to 160 with volume up the roof...
Now if you are referring to very short term play from here to 160 and lets say you are lucky and goes to 153 yes maybe...but still not very risk/reward from my point of view, maybe intraday scalps. But since the only thing i saw was "distribution" and "Short" i was just expressing my concern. Moreover,by my point of view, i think the MoMo was def slowing at 170-180 before the drop, now it's resuming an uptrend after a chaotic search of support caused my the many fires we have seen in the news. Nevertheless this can change anytime, any external factor can influence a predisposed bullish looking graph, hence my first question. GL with your trades
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BEI BEI
But 140....i sincerely don't think so, very decent supports before that, at least enough to make prices go back to 200 and i want to be long when it does so because i think it will break it.
Maybe if it goes down to 155 after up to 177 and can't get above it....===> 78% - 177 $ price level and starts to break very short term supports i will be looking to deeper than 155...(lower low), and yes 140, it's a process.
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You should not look at 120 as a failed break, because we are coming back down the leg, 120 is first touch, and will always bounce. Now we are testing support that we previously lost.
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BEI TradeVulture.com
i see the pattern you are currently seeking, i Myself was finding it odd if it would have bounced from there (139-140 monthly support) because 150-155 high area looked pretty bearish for another leg down to lows and deeper, and the pattern would have looked weird...but i guess i did a good thing buying at monthly supports, and judging by the candle i was not the only one watching this...
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