TSLA is currently in an uptrend however it might break the uptrend thanks to a prediction done with the technical indicators that all show that TSLA is overbought. I have drawn the support (green) and resistance (red) horizontal lines. The price is getting close to the resistance level at around 193.50 and might bounce back down to around 183 at the first...
Seems to be a 50%retracement of the 3rd elliot wave. It is also a level of previous support and resistance (the red line). The red rectangle is an area of possible resistance (calculated with multiple fib retracements and projections) place stops above it. Only thing thats making me a bit less confident about this trade is the fact that we broke out of the...
With a 3 day weekend coming up and China still a major bearish fundamental influence, I am shorting certain speculative tech stocks that will likely take the most short term punishment. TSLA is one of them and I like how a technical trend channel is providing a great entry for a short. I expect at least a minor selloff on Friday for traders/investors that simply...