1. The recent reversal in Tesla indicates a likely test/attempt at $226/$25 (or lower) into the week of Oct. 20 (+/-1 week).
2. Therefore, new short entry is indicated with an initial short position exit at $227 and the remainder held for the possibility of lower prices to be messaged in a subsequent update.
3. Initial protective stop should be placed at $242.20. This stop will be moved lower as the market continues to confirm. Will update.
1. In yesterday’s (Mon. Oct. 13th) report new short positions were indicated in Tesla at approximately $231 for an expected decline to $226/$25 (or lower) into the week of Oct. 20 (+/-1 week).
2. Tesla immediately declined and completed the $226/$25 (and lower) downside target. This completes the trade. Lower prices remain possible for those who may be holding remaining short positions