TSLA not running hot anymore

Disclaimer: Whatever I say or post doesn't act as financial advice, so please do your due diligence before making any decision.

TSLA continue its downtrend going into the start of the week, shedding almost $800 billion in market value. Elon Musk must be questioning himself of his choice to join Trump administration, and his controversial statements made in public. 

Looking at the daily chart, TSLA has basically covered up all the previous "shadows' created by its huge jumps to the upside. It's almost reaching the previous consolidation level of 170 to 180 between June to August 2024. 

In my opinion, this is not the end of the drop, so if you are a long term investor, I would suggest to wait a bit longer if you plan to add on shares. You could also look to trim some positions and actualize your earnings. I attempted a 21/03/2025 sell Call spread 262.5/265 for $0.50. Lets see if it gets filled.  

@madluvyz - Specialist in using TA to sell options and swing trade.😺