RSI shows extremely overbought on the daily. No real support until around 160 EUR. In the current markets news cycles have very short term effect so latest earnings likely to fade out of memory very quickly. 20% retrace likely.
My last analysis held true: Tesla formed a triple top before braking down and smashing below various support levels. Now, Tesla is clearly oversold on daily RSI and we should expect a relatively fast bounce to the 780-800 range to form a classic bull trap. Following this, we should expect to resume the downtrend until Q1 earnings is near enough to support the...
Tesla is incontrovertibly a bubble. Having breached a 1000% return in 2020 and pushing P/E above 1700, this dwarfs Bitcoin 2017 and we should look to Cisco 2000 as a historical guide, which lost 85% of its value over the 12 months following its peak.
Timing tops is difficult business, but given Tesla has recently pushed up 10% on the news that it is recalling 20%...
