TESLA: CAN THIS EVEN BE POSSIBLE?
Hello traders, today let's talk about Tesla.
Since Mr. Elon Musk bought Twitter, Tesla's stock has been dropping pretty badly. Percentage-wise, Tesla is down by -50%+ and still counting. Till early December, Tesla's stock was close to $200 and now the price is almost half.
In this weekly chart, Tesla is trying to hold this support 1 level ($112). A bounce back from this level could possibly mean, Tesla, going back to $190 to $200 and then a dropdown toward $60 (support 2). The RSI is at the oversold area which indicates a bounce back. All I fear is, in a long run, Tesla stock might drop down toward $60 or even $40.
For now, $112 looks like good support.
What's your view on this? Do let me know in the comments.
Trade safely.
Since Mr. Elon Musk bought Twitter, Tesla's stock has been dropping pretty badly. Percentage-wise, Tesla is down by -50%+ and still counting. Till early December, Tesla's stock was close to $200 and now the price is almost half.
In this weekly chart, Tesla is trying to hold this support 1 level ($112). A bounce back from this level could possibly mean, Tesla, going back to $190 to $200 and then a dropdown toward $60 (support 2). The RSI is at the oversold area which indicates a bounce back. All I fear is, in a long run, Tesla stock might drop down toward $60 or even $40.
For now, $112 looks like good support.
What's your view on this? Do let me know in the comments.
Trade safely.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Related publications
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.