Since 2014 Tesla is trading in between a Trading-Box. The Box reaches from 183-270$. The last weeks we have reached the upper edge of the box. This is a nice Level to short Tesla. SL should be above the box`s upper edge. Target is the bottom edge of the Box. The bottom of the edge is furhermore corresponding to the 38,2 fibo (28-292) - this should be a strong Support. Clear Trading-Levels are the box`s edges. Above the Box Long, Below the Box: Short it :-) In the Chart i illustrate a possible shortposition - TP1 is the trendchanel @ 210 TP2 183
Good trades!
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Comments
dewpoint
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Hi MaryJane, Good call on this, i had been looking at Tesla last year when it was around 225, had taken a test drive, but thought that it might have some room to go, as the sales person had just bought in around that level, he even said that it should go to 295. Didn't know too much about tesla in terms of the trading it. Thanks again