More downside for Tesla

Since this January note (link below), Tesla was amongst the selection of ‘overarched’ Nasdaq stocks of which I bought Put Options.

https://robzdravevski.com/2021/01/10/cashing-in-some-chips/

Tesla was trading at $848 at the time. It was trading at 515% above its 200 week moving average (of $138).

Since then, the stock has declined 29% to $598 (those put options have tripled, keep in mind they are a portfolio hedge)…… yet the stock is still trading at 285% above its 200 week moving average, which now sits at $155.

It’s plausible that TSLA trades down to the $425-$475 region.

March 7, 2021
by Rob Zdravevski
rob@karriasset.com.au

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