Tesla going into correction mode

13 янв. 2021 г.

I'm not recommending anyone follow my lead but here is a chart indicating where I think tesla is going to correct to. Once it hits that inflection point I truthfully have no clue where it will go. Leaning towards rocketing vertical again given the lunacy involved here, but under the current conditions and with today's close being slightly lower than yesterday's open, which indicates to me the buyers did their best but couldn't stop what began Monday - the correction is happening.

Sprinkle on rsi still showing as overbought, the hanging man from last Friday, and that the greater market is due for a, correction, and we have a workable theory.

Happy to answer any and all questions. I realize this is very simple but just wanted to share

13 янв. 2021 г.

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Update - after what I thought would be a down day, I realize the upward rebound wasn't done yet. However today ended perfectly at the intersection of my downward correction line and we can see today's candle formed a hanging man with a large lower body. I fully expect tomorrow and Friday to be large down days based on this chart and several other indicators.

Please let me know your thoughts, I am still sitting on several Jan 29 $795 puts and would prefer not to lose like 18k if you all think I'm dead wrong.