Short-Sale Set Up - TSLA 8/19/15
|Published:||19 Aug 2015 12:33 ET|
Tesla Motors (TSLA) has rallied back up to its 50-day moving average following a gap-down break following its most recent earnings announcement. The rally has been due to an upgrade by Morgan Stanley with a $465 price target, although it is not clear what the drivers for such a price move will be. The stock is currently trading just beyond the 50-day line, and we would use a breakdown back below the line as a signal to initiate a short-sale position using the 50-day line, plus an additional 2-3%, depending on one's risk preference, to account for "porosity" as an upside stop.
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