0-60 in a Tesla

I like to look at a lot of different time-frames when doing chart review and today the 60 minute chart in $TSLA caught my eye:

TSLA_60mA big up move post-earnings and now a much needed rest as volume goes into cruise control mode.

No matter what your bias or position may be, consider these few points:

  • If you are long, protect these gains with a Stop or buy June 75 Puts
  • If you are short, I would imagine you appreciate the rest here. You can buy June 80 Calls to protect against any more up movement
  • If you have no position, what is the higher probability move here over the next few weeks?
  • How much of the short interest has covered?

 

Leave a Reply

Your email address will not be published.