$TSLA 2020-SEP-03

For the majority of people in this trade, there should be enough headroom here to ride out any shakeouts.

To be clear, this trend is too steep for any serious midterm performance measure (currently +35% month-on-month), however it is worth letting run at least until the bottom of the channel falls out. Options are too horrifically priced at the moment, so puts are off the table. Set alarms around $350 and go do other things in your life.

Comment:

Another pretty misery filled 24 hours for TSLA fans, however the trend is still very much in place. Price would need to drop a further 10% from here.

Meanwhile, we are now in Fib bounce territory, for anyone who follows that type of trading philosophy.