TeslaShort
TSLA 8/16/2022
Updated
Sparked
Ignoring the facts.
TSLA Daily chart analysis
I can tell you this chart is “bullish”. How could it not be! Gas is expensive, Electric cars are the future, and the government just approved EV credit! “I’ve made tons of money in the past with TSLA going long” Price is low! Buy buy buy!
I can look at the chart and tell you to ignore the fact that for the 1st time since 2019, price has not been able to stay above the 200ema.
I can tell you to ignore the fact that if we look at TSLA’s historical chart, not once has it been in an “uptrend” when it hasn’t respected the 200ema(this is pretty much with any stock)
Ignore the fact that between 2010-2013, price moved sideways because it couldn’t stay above 200ema.
Ignore the fact that between 2014-2019, price moved sideways because it couldn’t stay above 200ema.
Ignore that fact that unlike in ’10-’13 & ’14-’19 when price couldn’t stay above the 200 ema, this time price is making a series of lower lows and lower highs.
Ignore the fact that in a textbook a “downtrend” is defined by price making lower lows and lower highs.
Ignore the fact these lower lows and lower highs have now formed a down channel that price currently still in.
Ignore the fact that on top of this we also have a Death cross.
Ignore the fact that the rest of the market has been on a land slide all of 2022.
If you ignore all the facts, then yes, TSLA is “buy”.
TSLA finds itself in a downtrend, in a down channel, and in very bearish conditions.
In its current state, I will look for an entry to enter trade short.
Price currently pulled back to the resistance level of the down channel. This is an area of value and a possible entry.
We also have an “Over-bought” Stochastic reading.
So far, every time price has pulled back to this area of value and stochastic has read “Over-bought, it’s been an entry to short.
It doesn’t get old; Downtrend + Pull-back to area of value + Over-bought Stochastic = Short entry
Entering trade short
Entry: 929
Stop loss: 1013
Target 1: 626, +32.63%, RR ratio 3.6
Target 2: 453, +51.24%, RR ratio 5.67
Ignoring the facts.
TSLA Daily chart analysis
I can tell you this chart is “bullish”. How could it not be! Gas is expensive, Electric cars are the future, and the government just approved EV credit! “I’ve made tons of money in the past with TSLA going long” Price is low! Buy buy buy!
I can look at the chart and tell you to ignore the fact that for the 1st time since 2019, price has not been able to stay above the 200ema.
I can tell you to ignore the fact that if we look at TSLA’s historical chart, not once has it been in an “uptrend” when it hasn’t respected the 200ema(this is pretty much with any stock)
Ignore the fact that between 2010-2013, price moved sideways because it couldn’t stay above 200ema.
Ignore the fact that between 2014-2019, price moved sideways because it couldn’t stay above 200ema.
Ignore that fact that unlike in ’10-’13 & ’14-’19 when price couldn’t stay above the 200 ema, this time price is making a series of lower lows and lower highs.
Ignore the fact that in a textbook a “downtrend” is defined by price making lower lows and lower highs.
Ignore the fact these lower lows and lower highs have now formed a down channel that price currently still in.
Ignore the fact that on top of this we also have a Death cross.
Ignore the fact that the rest of the market has been on a land slide all of 2022.
If you ignore all the facts, then yes, TSLA is “buy”.
TSLA finds itself in a downtrend, in a down channel, and in very bearish conditions.
In its current state, I will look for an entry to enter trade short.
Price currently pulled back to the resistance level of the down channel. This is an area of value and a possible entry.
We also have an “Over-bought” Stochastic reading.
So far, every time price has pulled back to this area of value and stochastic has read “Over-bought, it’s been an entry to short.
It doesn’t get old; Downtrend + Pull-back to area of value + Over-bought Stochastic = Short entry
Entering trade short
Entry: 929
Stop loss: 1013
Target 1: 626, +32.63%, RR ratio 3.6
Target 2: 453, +51.24%, RR ratio 5.67
Note
Adjusting stop lossNew stop loss: 1100
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