Tesla - Perhaps the most watched trendline in financial markets
Retail traders have been primarily momentum and trend based, so with this in mind, lets keep it simple and look at the longer-term uptrend and assess price action around this support in the near-term. Perhaps Musk can pull it out of the bag and promote a resumption of the bull trend, but the headwinds are growing and if they lose the momo crowd, the shorts could have a far better time of it. Trend breaks don’t always lead to collapses, but if they lose retail then the bid may dry up and buying puts could become a lot more expensive.
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