Please note we are re-issuing this report with corrected prices:
Last week we reported on short-sale set-ups in Netflix (NFLX) and Tesla (TSLA). NFLX was trading up to and around the 50-dma at that time, and over the past two days has broken down hard from the 50-dma. We would watch for a test of the August 20th low at 327.73, while using the 20-dema as a possible trailing stop on the upside.
Meanwhile, TSLA was trading at the 200-dma last week when we issued our Short-Sale Set-Up report around 318-320, and it has since dropped 40 points to the downside. Yesterday it undercut the 286.13 low of July 30th and this morning is trading slightly above that level. If it is able to hold above this level it would serve as a trailing stop and cover point. Alternatively, one could use the $300 price level as a trailing stop from here, but a 15% gain in just six days is nothing to sneeze at, especially in this market.
Short-Sale Set Up - Re-Issue of Follow up to NFLX and TSLA Short-Sale Set-ups
| Published: | 6 Sep 2018 09:11 ET |
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