It looks to me like TSLA is headed into a cyclical / longer term downtrend. Unless their a burst of extra positive news to hit the line, this downtrend looks like going to test the low, lows of Tesla
$Tesla(TSLA.US$ I think tomorrow i will purchase June expiration puts, with a DEEP Out the Money strike of 125 / 130 / 140.
Technically this HS pattern could be considered invalid because of the drop below neckline following the head but the moving averages should work very similar just not as strong of momentum. With the “invalid dip,” following the head, the longer term moving averages, such as the daily and weekly will still be moving similar crossing under one another but at a slowee pace, instead of the nearly simultaneous crossing if the neckline was tight.
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chanliu1983 : Very true my friend
Lucky Dog An : They all fell out of nowhere... Let's go to 100.
RIPPEROP Lucky Dog An: TBH, I wouldn’t be surprised if it reached 100. I wouldn’t be surprised if it reached all the way 80 actually.
The question is, how long of duration will the downtrend consist of……3 months….5 months????
Kind of like unexplored territory for TSLA
Lucky Dog An RIPPEROP: Don't look at this grandson, I'm not in a good mood!
Shroomie :
mizmo : how have the options been going with Tesla?
RIPPEROP mizmo: Actually, haven’t really been playing much Tsla lately BUT I did today right. Bough puts right after open with GREAT success. I think I made almost 100% on the 165 strike puts I bought. Unlike other times with TSLA, this morning’s positions, I opened and exited like a bandit! Haha
Also bought a few weekly expiration puts towards the end of the day when I saw the clear head and shoulders it was making
MonkeyGee : great assessment. I can't agree more. people got to be high on TSLA to not see the head and shoulder pattern.