TSLA (Tesla Inc.) has broken down below this uptrend line after recently putting in a divergent high (negative divergences). As there has been quite a bit of interest in the stock recently, including this chart & short entry (via put options) posted by @shambo just over a week ago, I figured that I would share my thoughts on the stock, including some price targets. The daily chart below outlines my likely scenario for the stock with the first target/support level coming up soon around the 327.40ish level, where a reaction is likely if/when that level is reached.
TSLA daily July 5th
@shambo also posted booking partial profits on that trade in the trading room today & letting the remaining position ride for now which could prove to be a timely exit as the stock is close to that first target level now. This is an unofficial trade idea & the price targets shown in the chart above are the actual support levels. Typically I set my buy-to-cover limit orders on short trades slightly above the actually support level at which I am expecting a reaction.