tristan.rhodes
Short

Love Tesla products, but SHORT the stock

NASDAQ:TSLA   TESLA INC
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.
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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).
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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.
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