I doubt price will be able to make it to the top of the channel before collapsing that is why my entry target is around $220.00.
I am estimating that a horrible report will send Tesla's stock down to around $100 a share. Theres a potential of earning $120 a share on this short.
Why do I think $TSLA will go down??
It's simply over valued, there cars are expensive to make, they can't make the cars fast enough or on time and Telsa has not been profitable YET! Not to mention they have a huge spending problem with there Giga factories and new acquisitions.
All of this concludes TSLA is way over valued and I am looking for a position on the Short side around $220.00.