Teslamotors
TSLA double top or another run for the cloudsI need to think about TSLA a bit more, here is my more detail setup. You can read my main reasoning in my previous idea "Tesla this year, basic setup". One think for sure, the company's exciting times just begin and even thou retraces, probably will never be back to those previous levels.
Cheers and happy trading
Tesla breaks out of a 3+ year rectangle to the upside before ERAs earnings near, Tesla breaks out above its 100 day moving average (pink line) and a 3+ year rectangle pattern (blue lines). If earnings beat, diagonal support line 1 could be breached, starting a $95 move upward as forecasted by the rectangle. New support at diagonal line 2 and blue line Y. RSI is still in a bullish upward channel, but let's watch for a movement above 70.
The Case Against TSLA: short-interest vs. price actionI lowered the xabcd since it imo could happen, bringing price to around 217, but then what happens after that..everyones favorite stock crumbles! Why? I believe short interest. But where are my Tesla bulls? Im a recovering TSLA investor, "shot myself in the foot" way too much when I started trading, so I probably wouldn't buy into the TSLA hype unless it shot up drastically (i.e PCLN). What is the bullish argument? ( I like Musk, I know he's an innovator, but what am I missing!?!) Best, Matt
Tesla - Call End of Day/WeekTesla Motors Co Chief Executive Elon Musk said on Sunday the automaker was updating its semi-autonomous driving system Autopilot with new limits on hands-off driving and other improvements that likely would have prevented a fatality in May.
Sentiment is positive. End of last week (daily chart) ended on S2 (support). Tesla breaks $200 (since thursday).
Call end of day.
If Tesla keeps breaking support and reaches $187, Call end of that week.
Short for Tesla :((((((I'm not a hater of Tesla or Musk at all! I love the idea to build ecological cars for everyone. But beside the fact that every single news on the autopilot flush Investors I think this can't be a long for traders. Tesla failed two times now at 234$ for 61,8% of this down move from 2014 to 2016. In longer perspectives I'm bullish on Tesla - no doubt! But for now I see coming prices rather 200$ than 250$.
TESLA COMPLETING A TOP, FAILING AT THE 200DAY MATesla stock lost the 50day moving average on Friday and is testing the 200day moving average support today. At current levels the stock would also clear a clean 'lower high' top. On a close below $217 (200d ma, horizontal support) could see a deeper selloff starting with next better support at $199 (gap) and at $188 (summer low)
TSLA Medium Term Short - Next leg down from the bearish trendTSLA (Tesla) Short
Here's a setup of a TSLA short that I've initiated on Friday. Looking at the Fibonacci retracement lines, it has struggled to breakout of the 38.2% line after it's initial denial at the 23.6% line. Recently, there has been a breakout from the 38.2% region due to a strong market, despite negative Tesla stories as of late. Similarly, price has had difficulty breaking above the 200sma, which it broke just as of late. However, the main bearish trend line, top one in blue, is acting as strong resistance. Tesla closed once again at the 38.2% line, looking to make a reversal here and head back to low 200s. Unless there is a breakout of the top trendline, I expect another leg down push, hopefully into the low 200s/high 100s region.
This is a purely technical-based short setup but is very influenced by Tesla news. Musk has yet to release his master plan which he had mentioned this past week. Any evidence of a breakout of the blue line would be a good place to cover a short position.