TESLA: What next?

The Daily trend is in a Downtrend technically indicated by following:
• Price is currently trading BELOW the downtrend trend-line.
The downtrend is confirmed from the MAs Bearish cross observed- MA 10 cross under MA20.
RSI:
• RSI is BELOW the equilibrium level- 50. Bearish Momentum.
Bearish Scenario:
With a break (daily close) below the support S1, we will recommend SHORT POSITIONS for the no position holders on TESLA. Take profit at 171.00 area and then at 140.00(S3) and stop loss should be a bit above the S1, thus the stop loss is at 191.00-190.00 area.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
Bullish Scenario:
While sentiment remains bearish, it is too early to recommend any long position. Therefore we are waiting for a reversal move – FAILURE SWING BOTTOM. Then long strategy will be with take profit at R1-R2 and R3 and stop loss a bit below the S1.

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