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Tesla Short ReversalHi guys its Brian here with a short opportunity for Tesla. Tesla is currently in a downtrend ever since start of the year as seen by the downward sloping trend channel. The price has also always been consistently below the ichimoku cloud from February onwards. Tesla reached the support level of about 175 level at the start of June and showed an upward correction but the correction is starting to end as seen by the strong red candle upon hitting the blue trend resistance channel. Volume also increased on the 2nd red candle showing there is strong bearish pressure driving prices downwards. If shorting here, take profit could be set at about 195ish or even the previous support level at 180ish www.brianchai.com Free Trading Group
NASDAQ:TSLAShort
by BrianChai
1
TSLA Short to 180Ahoy there mateys! Let's dive right in. TSLA fundamentals are arguably weak, the EV market is becoming more and more competitive. We're seeing strong entry into this market from the likes of Volvo, BMW and now even Porsche has a nice EV coming. We can also see demand softening for TSLA clearly evidenced by recent price drops on the vehicles. In a period of rising demand, you do not lower prices, therefore you can infer we are seeing weaker demand for TSLA's offerings. TSLA stock has long had a price in moat on the EV market which is arguably being eroded as others develop their technology. TSLA also has some potential liabilities related to Elon's loud mouth and defiant attitude towards the SEC and that really doesn't have much in terms of upside, but plenty of downside. Another speculative component of this short, the really high turnover in TSLA's financial and accounting departments. Especially after a quarter of posting record revenue and EPS. You have to wonder if there are some greater accounting issues at play when you see senior accounting staff quickly departing the company. Now, we can tear apart TSLA fundamentals all day. Looking at this from a technical and pattern oriented perspective we have a great short opportunity lining up. An arguably overvalued business with success priced in, facing a lot of uncertainty, is a prime short. We can see head and shoulders pattern forming on the weekly chart. The neckline has now broken and we are seeing the price fall below the 200 MA line (consistent with the neckline of the head and shoulders pattern). We can also see the 50 MA crossing the 100. I think we will see a reversal of the long-term uptrend, signaled by this neckline break, and TSLA should fall sub 200 as it searches for its next support level. A fib 78% retracement puts us at the 180 price level. To be fair, I've been trading this short since 280 -- now with the neckline break and this fall under the 200 MA I have increased confidence in this short and am entering a larger position. I'm expecting this to be trading sub 200 by the end of June 2019. I will be keeping an eye out for any price bounces to increase my short position. This is not investment advice, just my own thoughts and analysis. Trade at your own risk. Thanks for reading!
NASDAQ:TSLAShort
by Captainsmugglebutt
3
TSLA - Possible more downside, but buy any gap upMorning traders, We can see that tesla is in a falling wedge ending pattern, and that there is still a potential 5-6% downside in this asset. However with Musk buying shares and being towards the end of the wedge, I'd be careful loading shorts here. There is potential for more downside as mentioned, but I would not hold any contracts longer than a week. My trading plan will be to buy any gap-up days with month out contracts as is standard for me. Be careful next week in any longs, and as always, hit that like and follow button
NASDAQ:TSLA
by ant187
1
TESLA - BEARISHTesla has broken out of the bullish channel and is now looking very bearish. Blue triangle indicates the current range. Green box is buy. Red box is sell. Blue line indicates potential support/resistance . Red line indicates t/p. This is a log chart. This is not financial advice. All charts shown on my page, including this one, are just for fun. If you enjoy my ideas please give this post a like and follow my page if you would like to see future posts! :) This chart is made using fib channels.
NASDAQ:TSLAShort
by Halams
Don't open any long position yet, just shortsTesla has been on a downtrend for a while. it is under the 26 SMA and under the SMA 70 (the baseline). MACD has crossed down (a long time ago) and is under the zero line. It will have a pullup, but the overall trend is down, don't take any risk yet if you are a bull. If you are a bull, wait for at least 3 - 5 blocks to close over the SMA 70 that could signal an uptrend, but wait till that happens to make the proper analysis. If you are a bear keep enjoying the downtrend. Trade safely and good profits for all.
NASDAQ:TSLAShort
by Silos_Notlim
TSLA - Short Swing TradeTSLA has been in a range and a pattern is repeating itself. R/R: 2.44 Duration: Days-Weeks Tip: For more confidence wait for signs of price weakness. Good opportunities for better entries, more confirmation and better R/R. Good luck and be patient. Remember to have small risk, (I usually stick to 0.1-0.5%) It's better to be comfortable taking a loss than not taking it at all. This is not a financial advise, just expressing my own opinion. Leave a comment or a like if you agree. Naturex
NASDAQ:TSLAShort
by naturex
Elliott Wave View Expects Tesla Rally to FailElliott Wave view in Tesla (Ticker: TSLA) suggests the rally to $352.09 ended wave ((2)). This suggests the stock is in an impulsive Elliott Wave structure to the downside. Wave ((3)) is in progress and the subdivision unfolded also as a 5 waves Elliott Wave impulse of lesser degree. Down from $352.09, wave 1 ended at $343.8 and wave 2 ended at $351.5. Wave 3 ended at $281.69, wave 4 ended at $290.61, and wave 5 of ended at $279.28. The entire move lower from $352.14 to $279.28 ended wave (1) of ((3)). Tesla is now correcting the decline from $352.09 in wave (2). The correction looks to be unfolding as a double three Elliott Wave structure. Up from $279.28, wave W ended at $298.52 and wave X ended at $287.75. The stock has scope to extend higher towards $307.16 – $319.20 area to end wave Y of (2). Afterwards, it should extend to the next leg lower or at least pullback in 3 waves. As far as pivot at $352.09 stays intact during the correction, we expect the rally in Tesla to fail and the stock to extend to the downside.
NASDAQ:TSLAShort
by Elliottwave-Forecast
1
Bear flag is surely forming = BEAR trend has begunIf you look carefully at the last 2 days what do we see? Inverted hammers. Price resistance 350. My fractal was off, because of holidays, but basically it, this was the fractal event. Which will spiral Tesla into the ABC pattern, and begin an actual bear for it or rather it will force the price to touch a major support line at 250 and 200 respectively. TESLA is extremely desperate for cash. They increase efficiency at the price of lowered stock price. That is a fact. They grew to where they are now, but now is the time to become a better oiled machine, and that my friends will require more pain. Which will translate into more price decline. We may still hover between 315 and 300, but one thing is for sure, Bears will be hungry for blood here, and bulls will be scared especially if price dibs below 300. If we close below 300, SHORT the living crap out of TSLA it is heading straight to 250 in a matter of days. Obviously i am no oracle, but you have to agree, this thing is so volatile. As price will decline back to 250, and ER is fast approaching, all eye will be on it. Here is what i think is going to happen: Good sales, targets reached, BUT insane cash burn. So price jumps initially, but then the details emerge such challanges, and cashflow or god knows what. Causing the price to drop back and decline past 250 into 200 Territory for the first time. TSLA is a pioneer, they have inspired other and they did incredible things. BUT, and a BIG BUT, all companies, without exception, go through correction phase. So unless ER is epic, expect a MASSIVE SELL OFF. This will affect all other EV companies. For those that need to be reminded about the bear flag: www.tothetick.com Good luck everyone ;) **LEGENDS** BLUE = Bear/Resistance Yellow = Bull/ Support ~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~ /*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/ If you want your coin to be analyzed, JUST ask. If you got a question, ASK away! And please keep those Stop losses in place! Fractal dates are moments of interest, where price and time collide to create oscillation - vertical lines! Thank you, Ajion
NASDAQ:TSLAShort
by Ajion