Love Tesla products, but SHORT the stock

40 3 1
It appears to me that TSLA             is either coming down from the right shoulder of a bearish Head and Shoulders pattern (green color), or it is bouncing down from the top of a trading channel (purple color). Either way, the stock looks like it is going down.

I expect a bounce on the channel support around $185. At that point, the stock can either climb back up to the top of channel around $280, or it can fall even further to complete the head and shoulders pattern, perhaps stopping at support around $120.
There was a large quick drop and a pullback up to resistance. I am adding to my short position, with a stop-loss @ $260.
I think this pattern would be better described as a double top, since the head and right shoulder are almost the same height. The outcome, however, is exactly the same, since a double-top has a target movement equal to the height from neck to head (the same has Head and Shoulders pattern).
tristan.rhodes tristan.rhodes
The horizontal trading range is still an potential outcome, so lets see what happens after it reaches the bottom of the channel.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out