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Tesla Drives South: Here's The Technical Trade

Published 10/08/2018, 01:04 PM

Tesla (NASDAQ:TSLA) has been on a roller-coaster ride over the past few months. The electric vehicle (EV) maker peaked out on August 8, 2018 at $387.46 a share. Since that high pivot top, the stock has gone through a lot of CEO drama and the shares have come under major distribution.

Support Watch

Today, TSLA stock is trading lower by $7.45 to $254.30 a share and is now testing its recent double bottom pivot made on September 7, 2018. A close below this key level will tell us that another leg of selling is on its way. One key support area that would interest me is around $217. This is where the stock was defended in January 2017 and likely a level to be supported again when retested.

Tesla

Latest comments

So what is the trade? Shorts? Longs? Calls? Puts?
any shorts left to be had ?
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