Short Tesla!

Tesla (TSLA), the electronic car company, was the Wall Street darling in the past 1-2 years. There was so much euphoria for it, its stock had gone parabolic all the way up to almost $200 even when it is still losing money as a business. This kind of euphoria for any stock wouldn't end well. NO EXCEPTION! In the past few weeks, Tesla got crashed and dropped to as low as $120 but it has fought back since then. However, technically all the indicators have pointed to a very bearish moment for it: it is hitting a very strong resistance right now. It is kissing its 50 day moving average from below (the green line); it is hitting the downtrend line (the red straight line); and its RSI is approaching the overbought level (80). I think Tesla has to go down in the next few weeks and likely to test its low or next support level around $120, which is its 200 day moving average (the red curve).
Buying Tesla put options could be a good trade for some quick money!