TSLA Trendline Test Short Idea
TSLA had a big move up today, but it has several resistance right where it's at now. We have an ascending channel/wedge that it is at the top end of. Also, the descending trendline above is the monster one from ATH in 2021. A break above would be quite bullish IMO so I'd look for longs on a retest at that point. For now I expect downside, targeting the $200 area. Stop would be 1-3 daily closes above the major trendline.
Note
Big gap up, interesting. So far it failed at the highs from July, but it's still well above the trendline now. This is the bullish scenario, so I'd be looking for calls on the retest, but I'd be careful because if this is another fakeout like last time, the drop is going to happen fast.
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advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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Disclaimer
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