Tesla Oversold
Updated
Tesla Daily Chart
The last few times, the RSI on the daily chart went under 30, it signaled the bottom of the downtrend, as well as a reversal to the upside.
I suspect Tesla could go down to $780 (Next Major Support) before bottoming out. The RSI hasn't yet gone under 30, but it is very close.
I also use the De-trended Price Oscillator to help Identify tops and bottoms. On that indicator, it is currently signaling that we are likely near the floor of this fall.
Im guessing 2022 will be a bumpy year for stocks in general, and we could see short-lived, but volatile swings in both directions.
The last few times, the RSI on the daily chart went under 30, it signaled the bottom of the downtrend, as well as a reversal to the upside.
I suspect Tesla could go down to $780 (Next Major Support) before bottoming out. The RSI hasn't yet gone under 30, but it is very close.
I also use the De-trended Price Oscillator to help Identify tops and bottoms. On that indicator, it is currently signaling that we are likely near the floor of this fall.
Im guessing 2022 will be a bumpy year for stocks in general, and we could see short-lived, but volatile swings in both directions.
Note
Tesla's price went down to about $790 and had a strong bounce back up.For now the support has held, but it doesn't mean that we wont re-test that level again.
If the current support of $780 - $790 is broken ->
The next major area of support is between:
- $620 and $710
Message me if you have any requests regarding a particular stock or crypto. I''d be happy to share my thoughts / analysis.
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