BDRTrigger33
Long

Anticipated Tesla Short Over; Buy Window Slamming Shut; LONG (!)

NASDAQ:TSLA   TESLA INC
Tesla has been a little volatile over the course of the COVID season, needless to say. Its most recent slip saw it drop to about 780/share, but with its very strong close to last week, $TSLA now hovers around the 835 mark, seemingly having shattered an 820 resistance mark that seemed as strong as the titanium in its battery cells!

Many long-term Tesla bulls have decried this to be a holding that has very little downside, and it may appear at this moment to be at least mostly true. $TSLA harmonics are shaping up for a very big run after failing to reach much of a trough through the SHORT which really never was.

Did the opportunity exist to re-position? Certainly. Some of us tried. But with the volatility of $TSLA the best anyone probably could have gained was around the 20/share mark. For those with bigger holdings, the re-positioning makes enough sense. For those simply looking to manipulate a smaller holding, it was simply a chance to get burnt, or suffer a total waste of time in a vacant wash.

Regardless, $TSLA now is shaping up to be the mega-long-term hold investors consider it to be, and further tests of a bottom trough resistance mark look, at least for now, quite unlikely. Bears had been insinuating this would re-visit its March lows when it dipped under 500/share, but that is now looking mostly like wishful thinking with Tesla's next major resistance mark potentially not occurring until the 850+ per share mark. Now's a time to re-enter, load up, or double-down, because the short window is just about closed, and it was barely open to begin with...

Happy Trading!

Comments

Was seeing that last candle on the weekly during the last 5 minutes of trading hours and had to liquidate half of one of my positions just to get in on some tsla calls after playing an iron condor the week prior. Hopefully up through the highs :)
+1 Reply
@AlexSopa, It is such a wild volatile stock to play with. It's dirty and mean to me too. I shifted it into my second portfolio (Which I watch FAR less) so I can stop worrying about the swings and focus more on things that make more sense: In other words, I tried to short and got burnt by about 7 per share LMAO.
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BDRTrigger33 BDRTrigger33
I tried to re-pos: SELL @ 820; RE-BUY @ 827 (kicker is I put the order in around 809 and the trade window really shafted me)

NOT ideal. Obviously getting burnt led to this entire thought, so at least it was productive for that? ha.
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