TSLA BULLISH
Tesla's recent event showcased the Cybercab and Robovan, advancing its vision of autonomous transport, but it left investors questioning the practicality and timelines. This skepticism led to mixed reactions and a drop in Tesla's stock. But is the media framing this as purely bearish news to trigger a reaction, or does it present a strategic buying opportunity?
Our Supply and Demand Analysis Perspective:
>On the Weekly chart, Tesla’s price drop landed right in the Weekly Demand Zone, indicating a value area where price is relatively low. This positioning suggests that last week’s news may have actually created an ideal entry point for investors.
>The Daily chart also shows the price hitting a Demand Zone due to the news, making it a potentially opportune time to buy as Tesla continues to achieve milestones in autonomous tech.
What’s Next?:
>Price could consolidate within the Demand Zone, allowing for accumulation, or it might rally right away, responding to demand in this price area.
We’ll also be watching for the price to target opposing gaps and the Supply Zone identified on the chart, which could serve as key levels for future resistance.
***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
Let’s see how this plays out... 👀👀