Tesla bounced as expected, helped by an overall market bounce. The market bounce was also expected, per . Dead Cat bounce or true Reversal is unclear for the overall market.
Many analysts on the news are calling for doom and gloom for Tesla. So nothing new there, ''talking heads" have been saying that forever. But clearly we have a major downturn in sentiment towards this stock.
The downward velocity has been increasing (accelerating). The last wave is probably not done yet, a lower low is likely. Looking for a "blow off" spike below supports on high volume.
193-195 is immediate resistance but should be surpassed. 203-205 is mostly likely bounce target, then a leg down. 253-256 is MAJOR resistance, I am selling there for sure.
174-178 is immediate support but will not hold another hit. 139-143 will be strong support perhaps after $150 stop hunt. 123-126 is MAJOR support that if approached is a big buy. .
See some of my other plots and trade calls below. I also plot Forex and Crypto, take a look at my profile page.
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.