Pictures speak volumes. In this case, it’s pretty apparent that technical indicators are converging: downward sloping trend line with multiple hits, multi gap up days, prior high acting as resistance…. Consolidate for a bit and then pull back a fair bit.
Aug3 earnings will determine which way it breaks, but if/when it breaks the channel trend lines, will continue on to the resistance levels noted (which happen to coincide with the fibonacci levels so you have some convergence if that matters to you).
Tesla has had a over 100% run up in recent weeks and is currently testing strong VRVP, resistance point suggesting a 14% pullback to around the $180. A 45 day put at the current price with a 5% stop loss might work.
