We wrote a piece on March 11 about using its 20-dema as a favorable short-sale entry point.
Naturally one would have covered TSLA as it broke definitely above its 20-dema on Tuesday resulting in a pocket pivot.
This further illustrates how one must remain nimble in this market environment. Being wedded to the bull or bear side can cost you money. Being able to switch from bear to bull or vice-versa is key based on real-time price/volume action evidence. Of course, if one is not prone to short selling, one can simply switch from cash to a long position in the stock.
Should TSLA break its 262 issue price, that would make a good sell stop. Thus risk at its current trading price of 264.42 is scant.
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