I do lots of fundamental analysis on TSLA that makes me a long-term confident bull. However, I see a pullback coming after this current earnings-driven rally upwards.
Will buy puts if we rally to 200-210 (short-term target is 208)
Why puts?
1. To hedge my long
2. Convergence of fib area and 200 day EMA
3. RSI already overbought (72) but TSLA not unheard of to run up to high 80s, even low 90s
4. Gap to fill down to 145, needs to be cleaned up
#theTradeSchool
Will buy puts if we rally to 200-210 (short-term target is 208)
Why puts?
1. To hedge my long
2. Convergence of fib area and 200 day EMA
3. RSI already overbought (72) but TSLA not unheard of to run up to high 80s, even low 90s
4. Gap to fill down to 145, needs to be cleaned up
#theTradeSchool