Why I think JP Morgan Predicts a $120 price for Tesla1) The price channel (white) reveals that we’re only halfway to the next major bounce on the daily chart. With boycotts gaining traction and sales projections looking bleak, the stage is set for more downward pressure.
2) Looking back at the last significant downward swing ( purple ) within this channel, history could repeat itself with a drop of similar magnitude. The pattern is hard to ignore.
3) A critical support zone ( green ) lies beneath an unresolved price imbalance, still waiting to be tested. It’s like a magnet pulling the price lower.
4) When you weave these factors together—channel dynamics, past swings, and untouched support—they converge ominously around the $120 mark. Coincidence? I think not...
Let me know what you guys think.