My feeling is that TSLA can be traded from either side at these levels, but right now I'm trying to sit on my hands.
Domination of the EV market is about to end. How quickly price will acknowledge that fact is another question.
The charts of the electric vehicle maker are showing some weakening in the stock, though a major shake-out isn't likely.
My plan is to enter into an entry level position on the short side.
I don't expect a break up to be announced anytime soon. If that were to happen, I'll add at least $300 to my target price. No joke.
Because they could be the next Netflix or Amazon. To me that's enough.
There's reason to believe last week's selloff was based on a false pretense, and that the episode could be a buying opportunity.
The best play post-earnings over time on Tesla has been selling bullish put spreads that expire roughly two weeks into the close TOMORROW, the first day post-earnings.
There are 5 things that I would like to see happen here.
TSLA built a plant in China at exactly the worst time in modern Chinese history because of the spreading coronavirus.