TSLA TWO DAY SWING SETUP

TSLA algorithm on the daily is still in a sell short position. On the 30 min time-frame, the algorithm is neutral. Last Friday, the TSLA daily candle closed green - up 4.5%. This candle is a potential setup for BLT. Friday Bacon, Monday slight green and close flat as a doji. Tuesday we expect a 5% move within the first 60mins from the open. So the ideal entry would be open a position on Monday end of day. The setup would be invalidated if the price gaps down or if the price of TSLA does not form a Doji on Monday. There is always a possibility that TSLA can run on Monday but the probability is less than 50%.

TSLA is still in a downtrend and the short term bounce is limited and we still expect TSLA to trade lower down to the gap fill at 566 and then fill the gap at 400 sometime in the month of June either Tuesday 2 hours after the open or Wednesday. Triple witching week is generally bullish but post witching week the probabilities of TSLA dropping down to 400, especially if the underlying is not trading above 566, will increase exponentially.