Ubuntu_mee9

TSLA is extended here

NASDAQ:TSLA   Tesla
I love the stock, and have played it to upside often but think it is extended here now. Last time it was this far away from 8 EMA and RSI this much into overbought range, it did correct strongly. Not that I expect that kind of correction here, but expect some rest or retrace. Good candidate to sell call spreads with time decay accelerating on monthly options.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.