cryptoyoda
Short

Tesla in downtrend, short opportunity coming up? (again)

BATS:TSLA   TESLA INC
154 4 1
After a long, steep rise* to a market cap well in excess of several carmakers with well-established franchises and less unpredictably flammable technology, TSLA             took a hit when a video of a burning Model S went viral on Youtube. A more recent fall in the stock coincided with an InteractiveBrokers margin hike**.

A downward-sloping pitchfork dating to ~9th Oct             now looks confirmed (eg by support at the ML, a zoom through the ML, and finally resistance at the ML***). An entry may present itself within the next few hours: short at 167.5, stop at 171.3 (or just above ML if you like to live dangerously). Of course, if TSLA             makes it back above the ML (~$170) all bets are off...

This is my first 'idea' & I just made it up. So comments welcome & good luck! :)

*context: https://www.tradingview.com/e/E5qSJWeh/
** http://www.zerohedge.com/news/2013-10-07/interactive-brokers-just-punkd-microcap-momentum-chasers-hikes-margins-100
*** Seriously - to within a couple of cents until the last bounce, which was lower and could herald the sharp drop. See
snapshot
There's still some life left in TSLA! It gapped through the ML instead of bouncing down - damn, that would have been a nice long - and appears to be finding resistance at the upper quartile. So it looks like the downward fork is 'live'. So is this a new, improved, short opportunity? Or would it pay to wait for a third bounce at the quartile?

Answers on a postcard to: C.Yoda@tradingview.com :)
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