TSLA looking to run a little more but looks tired
Updated
DISCLAIMER: Currently have an open position on TSLA.
Tesla has had a good run up to end the year, however, the rate of increase seems to be a bit more rapid than natural (probably some combination of FOMO and good news). The next earnings piece looks to be mostly priced in to the current levels, however could go up on a solid earnings beat.
I'd think the current trend probably ends around $435, but wouldn't be surprised if it continues on more good news.
Near term I think that profit taking will happen and that the price should correct back into the $390-$405 range and would be looking to add to a long position there.
Tesla has had a good run up to end the year, however, the rate of increase seems to be a bit more rapid than natural (probably some combination of FOMO and good news). The next earnings piece looks to be mostly priced in to the current levels, however could go up on a solid earnings beat.
I'd think the current trend probably ends around $435, but wouldn't be surprised if it continues on more good news.
Near term I think that profit taking will happen and that the price should correct back into the $390-$405 range and would be looking to add to a long position there.
Trade active
Added more to my short position. I think that this cycle of short probably has a couple days to run out as the market self corrects at the beginning of Jan. After that I'm planning on closing the position.Trade closed manually
closed this position
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