Trading Tesla ( TSLA ) – 5/17/2018

Trading Tesla ( TSLA ) – 5/17/2018

I am not going to waste time stating the obvious about its expense and profitability etc.  This company’s fate will drag it to the following outcomes in my opinion.

  1. ) Chapter 11 bankruptcy
  2. ) Get bought by other company as a whole or may be just a brand will survive

Shorts have got burned by wrong timing.  But new shorts on any bounce between 320 – 360 should get good entry.

Since I am not into shorting stocks, I will be looking to buy ( Just as a trade, as you probably already know what I think about company’s future given current situation ) where shorts are likely to cover.  Once such successful trade was at 250. Now I will be looking again to buy it between 200 – 250.  When 200 gives up, 100 – 150 may be next !  There are ample easy trades between the stated ranges.

Tesla_Weekly_Chart_May_17_2018

Tesla_Weekly_Chart_May_17_2018