TSLA / MAJOR TECHNICAL SCENARIOS - PICK YOUR HORSELong(invest) for the longer-term and Short(hedge) for the shorter-term.
NOT FINANCIAL ADVICE - I have no positions with TSLA but I do think the trend is more sustainable at current levels and is likely to be higher in the distant future than it is today but not without the possibility of lower prices in the meantime.
The artwork is not for sale.... but, I do charts 4 foods (trademarked)
SHORT-TERM BEAR CASE #1 (crazy highlighter artwork for the sake of humor)
The artwork does represent a real pattern known as a head and shoulders pattern, as explained by an expert here .
SHORT-TERM BEAR CASE #2 (magenta rectangles, red and white text, yellow and white lines - NOT the white text on the gray box, that's for my credibility over time)
The potential bear flag is currently in the second phase or the consolidation, after just completing the 1st phase or significant drop.
The third phase is projected by applying the measurement from 1st phase to the current consolidated price (the consolidated price I speak of is the rough median of the recent high-low range 720 - 520).
LONG-TERM BULL CASE (green line, green rectangle, gree text)
The well-established channel of support and resistance exposing the current trend. While this channel has proven to be strong in the past, I think the support may owe some slippage to balance the slippage seen at the resistance, as we experienced the recent blow-off top and break above said line. If the price does in fact break below the support line of the channel, it will likely be short-lived but could justify a return trip to previous levels of support (both on the charts and in certain tweets near $420) before ultimately returning to the longer-term trend and bull case.
Video where I called the end of the last TSLA rally and established my credibility on the topic at hand..... called Sept 2020 top here , called the January 2021 top in one of the related ideas below and I linked a stopped-out TSLA idea just for transparency.
