Tesla - Waterfall
Just checking potential key levels on the way back down with TSLA. Seen a few people calling out the $60 mark as the target bottom but is there potential for a little bounce from close to where we're at right now ?
Pro's for a little bounce now:
- Oversold on the daily RSI
- Close to a horizontal support from a previous peak
- hugging the bottom support Line of a downward channel
- buy the dip mentality
Overall I'm betting Tsla is probably going to go lower over the next couple years:
- global economic outlook,
- COVID cases in china knock on effect with production/supply
- increased competition from legacy manufacturers
Pro's for a little bounce now:
- Oversold on the daily RSI
- Close to a horizontal support from a previous peak
- hugging the bottom support Line of a downward channel
- buy the dip mentality
Overall I'm betting Tsla is probably going to go lower over the next couple years:
- global economic outlook,
- COVID cases in china knock on effect with production/supply
- increased competition from legacy manufacturers
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