As you can see, TSLA is an awesome stock to trade. However with every bull run you have to find the appropriate times to scale back. TSLA is approaching a Major Down Trend line here which traders need to be aware of. This also coincides with a major supply level where price is likely to react and/or pullback for a correction. Just above this trend line is the 300$ mark that big hedge funds and news agencies are pushing you to buy calls for. Unfortunately this level is just above the trend line and must be approached with caution. It is likely even if we spike the 300 level TSLA will sell off from a reaction here.
Inversely in order to continue to the next supply level above Tesla must break above this trend line. Backtest and and hold.
Inversely in order to continue to the next supply level above Tesla must break above this trend line. Backtest and and hold.
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