TSLA Trade on Oct 3, 2019 09:33 from J_Matrix: Tradervue User Stock Trades.

Intraday Fundamental:
-Shares of Tesla are under pressure on Thursday after the company said that it produced 96,155 vehicles and delivered 97,000 units in the third quarter, with the latter coming short of the 100K level that was reportedly suggested recently by CEO Elon Musk.

-ATR 8.26
-Elevated RVOL in the premarket

-Multiple Analysts chimed in on delivery numbers and majority of them were bearish on the name.
-JMP Securities downgrade to Market Perform
-Nomura keeps Neutral rating
-Barclays keeps Underweight rating
-Cowen reiterated Under Perform
-Wedbush reiterated Neutral at 220
-Morgan Stanley keeps Equal Weight at 230
-Needham keeps Under Perform rating

Technical Analysis:
-$TSLA had the opening print at 232.50
-Aftermarket pulled hard and made a double bottom at 229-230
-Premarket price traded above 229-230 and held.
-The tape showed buyers holding up the 231 at the open, however unable to get price above 234. Aftermarket resistance was at 235

Thesis:
-As long as 230 holds, buyers are in control and long back to 235
-If opening bottom range fails, sellers are in control and short.

Trade management:
-Hesitated getting long at 231 at the opening bell and FOMO crept in as I saw price reclaimed the opening print of 232.50. Gave the long thesis 2 tries and quickly reversed bias as I saw the sellers coming in strong hammering the bid right after price got below 231 Morning initial buy point.

Key Takeaway:
If in an overall bearish thesis, a breakdown of the opening low usually causes bulls to capitulate.