$TSLQ - Range BoundTSLQ is an ETF that bets against Tesla ( NASDAQ:TSLA ) and has been trading within a certain range for nearly 10 months. It is worth keeping an eye on this ETF as it may potentially break out to the upside. Although I have invested in NASDAQ:TSLA shares, I would use NASDAQ:TSLQ as a hedge for my long-term portfolio.
The pivot point outside of the range is $41, with a target of $60 (+45%). As this is a 1x bearish ETF, it would imply that NASDAQ:TSLA 's stock price would be approximately $95.