Where would TSLA go?
Does it worth for us to short TSLA now?
TSLA Technical analysis
TSLA Technical analysis
Since the rebound high in September, TSLA has dropped 60%, and there is no signal to stop the decline.
From the TSLA’s weekly chart, it’s obviously a downtrend. The nearest mid-long terms support is around $110.
My point is that if you short TSLA at $123 with a stop loss of $200 and a risk of $77 for a gain of $13, the trade is obviously not cost effective.
On a longer-term basis, I believe TSLA will fall below $100 next year, but after a short term sharp drop, there is no likelihood of a continued sharp drop here. Traders are rational and if it drops to $110, there will be traders to try to long.
My point is that if you short TSLA at $123 with a stop loss of $200 and a risk of $77 for a gain of $13, the trade is obviously not cost effective.
On a longer-term basis, I believe TSLA will fall below $100 next year, but after a short term sharp drop, there is no likelihood of a continued sharp drop here. Traders are rational and if it drops to $110, there will be traders to try to long.
This is my prediction of the future TSLA trend. Rome was not built in a day, and TSLA will not fall below 100 in one breath. So now is not a good time to short Tesla, you can wait for TSLA to rebound and then short it at higher levels.
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