TeslaShort
Tesla Short
Updated
Description: There are a few rules in the universe which cannot be broken. Due to the special theory of relativity nothing can exceed the speed of light or nothing can be cooled down more than 0 Kelvin (which would correspond to 58.9 Squarepenguins if you are using the imperial System). And shorting Tesla seems one of the things which are not allowed by the forces which hold together the world. But lets try it anyway.
After a huge selloff, the price is since the beginning of March 2021 in an uptrend which is compared to the impulsive selloff corrective. The formation could also be classified as a bearish flag which also speaks for the overall downtrend.
Chart pattern: Bear flag
Entry: 591$ (this would end the secondary uptrend of the correction)
Stop: 780$
Target: 470-340$ (1:1-1:1.6 Fibonacci extension of the former impulsive selloff)
Stopmanagement: Parabolic SAR daily chart default settings
Risk:Reward-Ratio: ~ 1:1
After a huge selloff, the price is since the beginning of March 2021 in an uptrend which is compared to the impulsive selloff corrective. The formation could also be classified as a bearish flag which also speaks for the overall downtrend.
Chart pattern: Bear flag
Entry: 591$ (this would end the secondary uptrend of the correction)
Stop: 780$
Target: 470-340$ (1:1-1:1.6 Fibonacci extension of the former impulsive selloff)
Stopmanagement: Parabolic SAR daily chart default settings
Risk:Reward-Ratio: ~ 1:1
Trade active
Note
Stopmanagement: 640$
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