Please note we are re-issuing this report with corrected prices:
Last week we reported on short-sale set-ups in Netflix (NFLX) and Tesla (TSLA). NFLX was trading up to and around the 50-dma at that time, and over the past two days has broken down hard from the 50-dma. We would watch for a test of the August 20th low at 327.73, while using the 20-dema as a possible trailing stop on the upside.
Meanwhile, TSLA was trading at the 200-dma last week when we issued our Short-Sale Set-Up report around 318-320, and it has since dropped 40 points to the downside. Yesterday it undercut the 286.13 low of July 30th and this morning is trading slightly above that level. If it is able to hold above this level it would serve as a trailing stop and cover point. Alternatively, one could use the $300 price level as a trailing stop from here, but a 15% gain in just six days is nothing to sneeze at, especially in this market.
Short-Sale Set Up - Re-Issue of Follow up to NFLX and TSLA Short-Sale Set-ups
|Published:||6 Sep 2018 09:11 ET|
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.