Tesla Motors TSLA Daily - Reached 17-day mode - exit/short?

Tesla has rebounded to the most frequent price (MODE) from the decline. This is a key level which is just as important as the price levels where it released its EPS (marked by green triangles). TSLA had no trouble getting through those 199-203 resistance areas, but now it has come up to another important one.

I am thrilled that TSLA has done the opposite of what so many aggressive bears think would happen (most people think TSLA is worth 10% of its current valuation by using all kinds of valuation metrics that are reserved for companies that are in their mature stages of corporate life.)

For bears, at this level, I don't have trouble with a trade on the short side. I personally will not be going short, but I don't see a problem with taking the short side here for a move back down to 203-199. It may not happen, but the risk/reward is decent. This is a big level of resistance and will likely provide a stopping point at least.

NOTE: This chart is UNTOUCHED in the sense of the FORECAST that I had made on the right side of the chart. I wish all my forecasts would be this close.

Tim 12:25PM EST 5/27/2014 212.23 +4.93 last