Chart clearly shows, Tesla seems to have found a short-term bottom at $110.
(i) RSI is very very oversold
(ii) Price may drop but shorts would be risky considering you'd have to cover fast. What is the point?
(iii) Price will regress to mean before resuming downtrend
(iv) Crossed the 200 EMA so price may reject at $160-70 but I believe we will see a push close to $200
Looking at an options play : Price needs to move 16% upside to B/E by exp date. All I know is Tesla moves fast...
- Feb 03c @Strike price $120
RR ratio looks to good on this one. Short term reversal can setup nicely, good luck.
(i) RSI is very very oversold
(ii) Price may drop but shorts would be risky considering you'd have to cover fast. What is the point?
(iii) Price will regress to mean before resuming downtrend
(iv) Crossed the 200 EMA so price may reject at $160-70 but I believe we will see a push close to $200
Looking at an options play : Price needs to move 16% upside to B/E by exp date. All I know is Tesla moves fast...
- Feb 03c @Strike price $120
RR ratio looks to good on this one. Short term reversal can setup nicely, good luck.
