Tesla is looking very bad. 150 is my targetIn mid-December of last year, NASDAQ:TSLA broke above the falling trend line. At that point, I predicted a continuation upward to the next resistance level at 300.
However, after initially rising to 263, the price began to reverse and what initially appeared to be a resumption of the upward trend turned out to be a major false break.
In January, despite prevailing optimism in the stock market, Tesla's price trajectory remained bearish, diverging from broader market trends.
Moving closer to recent days, the 200 support level was broken with a gap, signaling another major bearish sign. Currently, the gap has been filled, and Tesla is testing this support level as new resistance. Considering the imminent correction for US indices, we may witness a significant drop in Tesla's case.
I anticipate a target of 150 for this drop, although, to be honest, the 100 zone is not out of the question.
