The Non-Profit Car Company - saying "we will turn a profit".

I am late in shorting the first turn away from the upper level of resistance. However the price action may continue to drop to the lower range of the upper bear channel , 239 area. I do not prefer the risk to reward at this point in time and am watching for a retest of the 248-254 range to short in the first 5-7 trading days of May.

A more aggressive approach may be required if the price breaks due the news this weekend of quality issues and warranty costs climbing. This may require a wider risk to reward ratio due to the possible retracement.

Good luck to all!
Comment: Time to tighten up the stop and lock in profits when the market rises. Going into next week I am moving my buy stop from 1225 to 1217.50. I am anticipating a rally possibly into the third week of May.

I am long term bearish until this company no longer relies on government assistance and truly turns a profit. The hype will continue until reality unfolds in the future.

Don't get me wrong, I am a fan of all vehicles including electric cars. But business is business, cash flow is king!
Trade active: The price action has rallied back into the resistance area of 225-229. Due to the amount of time that has passed I would prefer to submit a new updated chart.

The $24 question is will the "hype" continue? I really loved the article I saw on the internet this morning about Musk's "Master Plan"! I believe I know his personal "master" plan and the stock price has to maintain or rise for him to financially benefit. A person only has to research his compensation, basically he does not receive a salary and is only compensated by milestones that are not related to profit.
I will continue with a trailing stop to be out of this position, sliding the buy stop to 212.50. My apologizes on the references of 1225 to 1217.50 as I follow gold also, so should have been 225 to 217.50. Now I wish to lock in another 5 points of profit - 212.50.
Time to move my stop and lock in profits as the market is right. So a stop above 225 as price action above this would be a possible retracement to lock in profits if one chooses.
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