"So why is Tesla at a crossroads?
It's become abundantly clear that Tesla has a very long way to go to raise production from 35,000 vehicles annually to the 500,000 that Musk has predicted by 2020. Meanwhile, Tesla's stock, while down from its peaks of mid-2014, is still trading at about $200 per share, a vast increase from its 2010 IPO price of $17. This is a $27 billion market cap company. General Motors is $55 billion market cap company — but GM sold something like 2 million cars and trucks last year in the US alone."
The TSLA chart certainly looks like a confirmed downtrend from my angle, it has just bounced off the top parallel line, and the other indicators look ok to open a short position. Hence, with the above comparison between Tesla and GM, and the SPX due for a pullback soon, perhaps TSLA is a short opportunity?
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PS: I am short from last night.
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