Tesla 1.42% was in a classic bump and run that was confirmed last week. Those of us that saw the warning signals were able to go short early. Tesla's two gaps signaling a reversal were on strong volume and signal a continuation of this new down trend. They should not close easily. A pennant seems to be forming which would be an other strong indication of a continuation pattern. Sentiment on the stock has been very negative lately and I would imagine those longs that got in under $200 are having a good hard think about taking their profit now or at least buying some protection.
I am short until I see a reversal signal.
I am short until I see a reversal signal.