Earlier today, I suggested that Tesla was about to reverse lower. I totally nailed this prediction, except for the direction. Instead, the TSLA short squeeze continues apace, making me wonder if Atilla still has his entire portfolio short the stock. I actually think it’s pretty nice that this thing is defying gravity, since a certain someone I know is profiting handsomely from this nutty rise, now in its 9th consecutive day.
![](https://slopeofhope.com/wp-content/uploads/2024/07/txlaup-640x590.png)
Looking at the daily chart, you can see my rational for being suspicious of the stock’s continued strength. The green tint marked a confluence of trendlines, which TSLA wound up busting. Now we’ve stalled at about $260, the highest Fib (red line). Get above this level, and I shall only shrug my shoulders.
![](https://slopeofhope.com/wp-content/uploads/2024/07/tslares-640x447.png)
There are two important dates forthcoming: June 23rd, which is earnings, and August 8th, the Robotaxi reveal, which might be a good “sell the news” event. Good luck out there!
![](https://electrek.co/wp-content/uploads/sites/3/2023/09/Screenshot-2023-09-12-at-6.55.17-PM.jpg?quality=82&strip=all&w=1600)
BONUS TWEET: