Tesla (TSLA) is rallying slightly today on news that it will unveil its new electric semi-truck. The stock has previously gapped down after earnings, breaching its 200-dma. Since then it has moved tight sideways in a short bear flag, with resistance at the 10-dma. We would watch for resistance to hold here at the 10-dma as an initial short-sale entry level, but optimally we'd like to see a rally on Thursday caused by the mindless hype and excitement of an electric semi-truck that pushes the stock up closer to its 20-dema at 219.37 or the 200-dma at 320.42 as more opportunistic short-sale entries. TSLA can't even muster up the production capability to produce its current line of EV autos, and we don't see how adding a semi-truck to the mix improves the situation, but, as always, price/volume action rules all.
Short-Sale Set Up - TSLA
|Published:||13 Nov 2017 10:50 ET|
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