Natestradamus

Bulls playing a dangerous game of hot potato

Short
NASDAQ:TSLA   Tesla, Inc
We are on 3 consecutive weekly gap ups, which is an exhaustion pattern, accompanied by being far outside the weekly Upper Bollinger Band . Daily RSI in the mid 90s and 4hr also in the 90s. This thing is going to waterfall hard. Not a short recommendation unless experienced, but definitely a time to take some off the table and have a very tight stop
Comment: Daily RSI, as stated above, is the highest that it ever has been in the stocks existence being now over 94
Comment: 4hr RSI is at historical levels only ever seen before once in the history of this stock for over a decade
Comment: So going back over a decade worth of charts and analyzing them, what happened the last time the daily and 4hr chart were this overbought? A 29% pullback followed. Trade safe, keep those stops tight and don't forget to lock in profit. This is going to be a wild ride

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