Tesla Cycle top- Be careful! Short

Tesla, Inc.NASDAQ

Description

⋅ Aug 14, 2020 1:08 PM

1.618 Trend based fib extension hit as well as the top of the uptrend channel... :) NASDAQ:TSLA had explosive growth over the last year 850%, but it's time for some pull-backs and consolidation. I don't see how it can go much higher at these levels, especially with most of the momentum indicators on the macro time-frame pegged to the upside... P.s. All the news you've been hearing about in Tesla is already priced in. Don't be afraid to lock in some profits... watch the daily and weekly 21 EMA for entries. -Eddie https://www.tradingview.com/x/B6w4CZop/

Comments

Billy_FX_

⋅ Aug 15, 2020 7:41 PM

Agreed, it’s good to be careful and not to assume around unknown levels. I think the bears have displayed their positions to a degree but the bulls have not responded yet around this price range.

wolfdeutschland

⋅ Aug 15, 2020 9:48 AM

Basically it could also break out on top and start a super cycle 📈🚀

gios222

⋅ Aug 14, 2020 1:27 PM

lmao stop shorting tesla you never learn the lesson

Eddie_Regal

⋅ Aug 14, 2020 1:34 PM

@gios222, I don't think most people know where to long/short or when to close those positions... that's not my problem. I've been long since $185 haha.