$TSLA Post-Earnings: possible volume exhaustion?
Earnings created a squeeze of sorts so now I'm looking for volume exhaustion and an overall correction with a potential push back to fill the gap. The RSI and Volatility Oscillator both pinged beyond normal ranges just after earnings and appear to have created a great short entry position but lacked much in the way of confirmation of what would happen next. It was however forming a head and shoulders that wasn't completed at the time. Right hand shoulder has now played out and price is stuck under .236 fib. Risk could be top of fib and reward shooting for the gap. Secondary rejection of the .236 would be nice confirmation while volume fades. A market red day would bolster the argument. H&S pattern more visible on smaller timeframes. Starting to see bearish divergence on both RSI and VO.
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