SHORTTSLA
TSLA: Inverted ChartI think the greater market influences are starting to take control and we are seeing this rally start to break down.
My price target for TSLA has always been roughly $60 - $90 and I have not seen a reason yet to change that.
The AI/TECH mania we have been witnessing is starting to lose steam and eventually those late comers are going to look
around and realise they have been chosen as the bag holders, as if it wasn't obvious but hey, fomo is an itch!
TSLA SHORTNASDAQ:TSLA
On the 4H Chart, TSLA is at the resistance of the SEll orders @ $ 924 with a Doji Candle.
TSLA is looking to reverse the trend and head down to 860 or beyond to 720.
Terminal RSI divergence hints at the reversal as does the increasing Choppiness Index.
A stop loss set at $1.00 above today's high seems reasonable and yields a low risk
for the expected reward.
What option would you use to trade a put to address this idea?
TSLA SHORT now SETUPNASDAQ:TSLA
TSLA has hit heavy resistance on the 2H chart as it
came up on the heavy sell order zone and the POC of the volume profile
TSLA reacted with Doji candles demonstrating buyer versus seller push and pull dynamics
The RSI is decreasing with a rise in price showing divergence and suggesting
TSLA is about to roll over. The Choppiness Indicator is still moderately elevated
showing buyer. seller action is sideways.
All in all, I forecast that TSLA is set up to short ( or via put options ) with targets
of 790 and 705. For a great reward-to-risk ratio, the stop loss can be $1.00 above
the top of the sell order zone.
Please review and offer your opinion in a comment !
( As an aside take a look at my idea of Sell Tesla Buy Ford using a TSLA / F ratio over
time as the key data for the analysis)