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Suggested Stop & Profit Targets For TSLA Trade Idea

The suggested price targets & max. suggested stop have been added to this updated 60-minute chart for the TSLA Active Short Trade idea that was posted yesterday. The price targets are T1 at 200.10, T2 at 183.50 and the final target, T3, at 167.85.

TSLA 60-minute March 18th

TSLA 60-minute March 18th

 

The maximum suggested stop for those targeting T3 will be based on a daily close* above 239.12, which is the top of the resistance zone defined by the Dec 31st/Jan 4th gap while those only targeting T2 might consider a stop based on a 120-minute candlestick close above 232 although my preference if targeting T2, even though I'm holding out for T3, would be to wait until Monday before stopping out over the 232 level as today is a triple-witching options expiration day (which is marked by increased volatility/intraday price swing). Those only targeting T1 might consider a stop based on a 3:1 or better R/R based on your entry price.

* When using stops based on a daily close, you can either close the position just before the closing bell or close the trade in the after-hours session, assuming that particular position trades actively in the AH session, thereby providing ample liquidity.

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Mar 18, 2016 11:23am|Categories: Completed Trades - Short|Tags: |9 Comments

9 Comments

  1. Drummonddrive March 18, 2016 11:54 am at 11:54 am

    I trade thru interactive. Just went to short TSLA. No shares available for shorting….never had that happen with interactive. Anybody else having that problem?

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    • Shambo March 18, 2016 12:09 pm at 12:09 pm

      That happens fairly often actually, often at inflection points. I have it happen with the 3x ETFs sometimes. Also at IB.

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    • cem602 March 18, 2016 12:39 pm at 12:39 pm

      TSLA has a an already high short interest so shares are sometimes tough to get. Options are easier with TSLA specifically.

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  2. tmeyaart March 18, 2016 3:37 pm at 3:37 pm

    but TSLA options are crazy expensive. Do you agree?

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  3. Teeps01 April 1, 2016 5:15 am at 5:15 am

    Tesla gapped up massively today to 250.00 area, stopped out. One to watch if it gaps down again Monday but jumped over the resistance bands noted above.

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    • rsotc April 1, 2016 10:04 am at 10:04 am

      Thx for sharing the reason for the gap. I’m going to sit tight with the official stop of a daily close above 239.12 although I’m not holding my breath, ready to cut it loose if it can’t mount some big turn-around today.

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  4. Teeps01 April 1, 2016 5:29 am at 5:29 am

    Tesla launches an affordable electric car. See BBC link below. Guess this is the reason for the premarital gap up

    http://www.bbc.co.uk/news/technology-35940302

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  5. Teeps01 April 1, 2016 5:30 am at 5:30 am

    That should read pre-market! I hate predictive texting.

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