Tuesday, November 5, 2013

After Hours Car Crash...

The bearish TSLA set up that confirmed at today's close nailed the move lower after hours. This move lower should kick off a multi week/month sell off that finally concludes around $70-80. I plan on covering my short position somewhere in the $100-125 area. I know that is a very broad range but there are several things I want to look at when the stock enters that area before I decide to buy the stock back. The 1st chart shows the bearish close at multiple resistance and the confirming bearish set up.
Short Term Daily Chart

2yr Daily Chart

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