Tesla Bounce and short squeeze setup.

23 may 2019

Tesla has been hammered with downgrades on demand concerns and the trade war. ONLY Negativity headlines are covered in the media and the selloff has been exacerbated by shorts. After the stock initially sold off and hit its 50% retracement, which it has done before and had an incredible v shaped revery... the stock recovered and closed higher even as the market sold off strongly. Helping shares recover was a leaked email to employees where Elon Musk says demand is stronger than output and they will have an all time record qtr in deliveries. Short interest is at almost 30% and everyone is negative on the stock after all the downgrades and headline making $10 & $36 price targets. The chart and indicators point to a reversal and the indicators are signaling a buy as well. With doubts about demand erased. Bears have little case on lack of demand, and i suspect it will trigger a huge short squeeze. Especially if analysts revers their tune on the leaked reports.