Good moment for a Tesla SHORT Play. This is a highly speculative trade idea. so adjust risk and money management accordingly.
My reasoning:
- price is pumped by a lot of inexperienced, Robinhood traders driven by pure hype and zero fundamental reasoning
- end of the month - some traders will start to take profit which could ignite bigger panic and sell-off.
- US100 (Nasdaq) index traders will also lock in profits or look for short opportunities.
- Tesla broke out of parallel channel
Entry: $1997
TP: $1700
SL: $2080
Risk to reward ratio: 1:3.5
TSLA
My reasoning:
- price is pumped by a lot of inexperienced, Robinhood traders driven by pure hype and zero fundamental reasoning
- end of the month - some traders will start to take profit which could ignite bigger panic and sell-off.
- US100 (Nasdaq) index traders will also lock in profits or look for short opportunities.
- Tesla broke out of parallel channel
Entry: $1997
TP: $1700
SL: $2080
Risk to reward ratio: 1:3.5
TSLA