Today Chaikin Analytics gave us an "Overbought Sell" signal in $TSLA.
There is only on thing that waved a red flag, entering a bearish trade.....
That said, I still decided that the preponderance of the evidence was TSLA looks lover extended after a decent rally, in the face of cheaper oil and a generally volatile market.
So, I entered a Bear Call Spread. That's where we sell one call and then sell another call further out of the money to define our risk. i sold the MAR 195/197.50 call spread and collected .75 per contract. I will look to close this trade for about .35 as soon as I can.
Of course, after I filled this order TSLA rallied right up to the $187 level I identified as long term support/resistance on decent volume.... luckily I have 22 more days for the trade to work out for me. I'll keep you posted on this trade.