TSLA beginning another leg down SHORTOn the 15-minute chart, TSLA has been in a downtrend and for about one week, a correction
has been underway. Based on a Fibonacci analysis of the downtrend and and its retracement,
I do not believe that TSLA will breakthrough the fib level zone. The zero-lag MACD is showing
bearish divergence from the price action. In that consideration, I have held my put options
through this correction suffering unrealized losses but now look forward to another leg down.
Musk's recent court ruling nullifying his compensation package in federal court lends a bearish
perspective as does his distractions with the brain implant company which now has its first
patient ( FDA approved) and of course the space and tunnel companies. ( Autism and ADHD
can be a blessing and a curse at the same time - IMO) I am long LCID given its Saudi Arabian
support and growing production schedules supported by the SA plant. For now I am content
to short TSLA until the Meusk drama settles down and the watch to see if price lowering will
expand demand numbers et cetera.
