I have seen al lot of trend reversals on charts, and they all look of 3 types. The chart of TESLA reminds a classic double blow off top. Quite scary if you think that the Bull market of tech stocks is probably dead and wont really come up again for a while. Plus Elon nowdays is not doing a great figure on twitter shilling Dogecoin and Bitcoin, I dont think investors are very happy. The robotaxy the Tesla bull are talking about are probably at least 10 years far from today (I know the state of the industry) so there is probably little reason to hold tesla this year.
Prediction: Possible rally/bounce up to 100ema and then trend down. Cutting down the 200ema will be a clear bear market signal.
Prediction: Possible rally/bounce up to 100ema and then trend down. Cutting down the 200ema will be a clear bear market signal.
Note
shorting at around 640 for a technical pullback could be an easy short term playTrade active
adding more short positions hereNote
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.