Admittedly: The news surrounding Tesla is not particularly exciting at the moment. Nevertheless, it is unlikely that the share price of the e-mobility pioneer will plummet. Rather, it is now important to wait for an ideal entry point.
The share has currently recovered significantly from its recent lows and a long entry would offer a suboptimal RRR. Instead, we assume that the price will move sideways to negative in the coming weeks and months, in line with the rather bearish annual seasonality, which usually lasts until September or October. The entry point shown at around USD 260 would then provide an ideal RRR for a long trade that would take us to the ATH area and possibly beyond.
The share has currently recovered significantly from its recent lows and a long entry would offer a suboptimal RRR. Instead, we assume that the price will move sideways to negative in the coming weeks and months, in line with the rather bearish annual seasonality, which usually lasts until September or October. The entry point shown at around USD 260 would then provide an ideal RRR for a long trade that would take us to the ATH area and possibly beyond.
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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.
Disclaimer
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.