Tesla (NASDAQ: TSLA) Chart Lined Up For Good Short-Selling Entry Point – Mike Swanson (02/14/2019)

Tesla is still a troubled company bleeding cash like crazy and a dangerous junk bond debt monster that is likely to simply go bankrupt one day. It’s also been a wild stock swinging up and down fascinating many people.

I believe it is now providing a good short-selling entry point for those that want to bet against it.

Since the market began to rally in December, TSLA has been a stock market laggard and is now forming a triangle pattern with support in the $280-$290 area and resistance in the $320 area. One could short now and place a stop above $320 to play a potential March breakdown of support.

However, I wouldn’t trade options on TSLA as the option premiums are sky high.

As for strength in the market one pocket of momentum is the dope stocks as CGC reported earnings and went up. I did a video on the five top cannabis stocks (with more thoughts on the stock market) you can watch here:

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