Tesla TSLA - Bears, Don't Be Greedy. No Moon, But $250 Is Next
Tesla is not the kind of stock that you want to get caught trading in the wrong direction on. It moves fast and hard and tends not to come back very easily.
Long is preferable to short, because on the monthly, it is not bearish and has left upside objectives behind. Don't kid yourself, those upside targets _will_ be taken out. Tesla is not a weak company.
It took until literally today for Tesla to finally take out a long term low after making its November, January, and April highs.
Frankly speaking, **now** you could call Tesla having entered a bear market, but only if you believe $414.50 was the top.
But at the same time, ask yourself if an Elon Musk company would come up short of $420? Dude paid $54.20/share for Twitter, remember?
Regardless, I know that Tesla is going to print at least $320 in the future, but I cannot say when that will happen. What I do know is that today Tesla has ran a significant long term low, which was from March of '21 at $179.83.
I cannot guarantee that it won't go lower and I can't guarantee it will go up right away. Maybe it won't go up at all. But I do believe that now that a significant downside objective has been obtained, Tesla's MMs will pair those sell side liquidations and panic sellers and poorly placed short sellers with the equivalent on the buy side in the gap at $250.
One of the reasons I don't believe Tesla will go take out those equal highs at $300 or set new highs yet is because Musk just sold a bunch of shares.
Keep in mind this is a guy who is a DARPA contractor and has a Gigafactory in Shanghai under the Chinese Communist Party. A guy who advocates for turning Twitter into "X" the "Everything App" like the evil CCP's WeChat, which more or less serves as a national-level surveillance and social credit system.
It's all part of this transhumanist technocratic Communist stuff, which is going in the wrong direction. Mankind needs to return to tradition. People need to remember they have a human body and that body can be cultivated through spiritual practice. What you can obtain by cultivating your mind through real life far exceeds what this modern technology could ever achieve.
Musk wouldn't have sold if prices lower than $177 weren't inbound.
Tesla won't make those big prices until it's the S&P's time to make 4,600 or new highs. SPX will be drug down by energy companies as oil collapses (Good job on re-electing the Democratic Socialists, everyone. They hate fossil fuels.) and defense contractors as the war in Ukraine goes towards negotiations.
Nasdaq is going to make big highs like the Dow just did first.
But first, we squeeze the neck of shortsellers.
This is pretty much what happened META in the last few days:
META Facebook/Meta - Too Much Bear, Not Enough Bull
Although Amazon has yet to deliver:
AMZN Amazon - Realistic Expectations In Both Doom and Gloom
It's hard to say when Apple will pop
Apple AAPL - Brace Yourselves for $200. Seriously.
And I believe that Nasdaq is set to head to 14,000, not down, as everyone keeps calling:
Nasdaq NQ - Unpopular Opinion #2,118: 14,000 is Coming
Tesla to $250 is already more than enough for a crazy good long trade.
Long is preferable to short, because on the monthly, it is not bearish and has left upside objectives behind. Don't kid yourself, those upside targets _will_ be taken out. Tesla is not a weak company.
It took until literally today for Tesla to finally take out a long term low after making its November, January, and April highs.
Frankly speaking, **now** you could call Tesla having entered a bear market, but only if you believe $414.50 was the top.
But at the same time, ask yourself if an Elon Musk company would come up short of $420? Dude paid $54.20/share for Twitter, remember?
Regardless, I know that Tesla is going to print at least $320 in the future, but I cannot say when that will happen. What I do know is that today Tesla has ran a significant long term low, which was from March of '21 at $179.83.
I cannot guarantee that it won't go lower and I can't guarantee it will go up right away. Maybe it won't go up at all. But I do believe that now that a significant downside objective has been obtained, Tesla's MMs will pair those sell side liquidations and panic sellers and poorly placed short sellers with the equivalent on the buy side in the gap at $250.
One of the reasons I don't believe Tesla will go take out those equal highs at $300 or set new highs yet is because Musk just sold a bunch of shares.
Keep in mind this is a guy who is a DARPA contractor and has a Gigafactory in Shanghai under the Chinese Communist Party. A guy who advocates for turning Twitter into "X" the "Everything App" like the evil CCP's WeChat, which more or less serves as a national-level surveillance and social credit system.
It's all part of this transhumanist technocratic Communist stuff, which is going in the wrong direction. Mankind needs to return to tradition. People need to remember they have a human body and that body can be cultivated through spiritual practice. What you can obtain by cultivating your mind through real life far exceeds what this modern technology could ever achieve.
Musk wouldn't have sold if prices lower than $177 weren't inbound.
Tesla won't make those big prices until it's the S&P's time to make 4,600 or new highs. SPX will be drug down by energy companies as oil collapses (Good job on re-electing the Democratic Socialists, everyone. They hate fossil fuels.) and defense contractors as the war in Ukraine goes towards negotiations.
Nasdaq is going to make big highs like the Dow just did first.
But first, we squeeze the neck of shortsellers.
This is pretty much what happened META in the last few days:
META Facebook/Meta - Too Much Bear, Not Enough Bull
Although Amazon has yet to deliver:
AMZN Amazon - Realistic Expectations In Both Doom and Gloom
It's hard to say when Apple will pop
Apple AAPL - Brace Yourselves for $200. Seriously.
And I believe that Nasdaq is set to head to 14,000, not down, as everyone keeps calling:
Nasdaq NQ - Unpopular Opinion #2,118: 14,000 is Coming
Tesla to $250 is already more than enough for a crazy good long trade.
Comment:
Tesla is certainly lagging the rest of the market in bullishness. I'll just leave this here, it's worth examining if you take the time to go look.
There's an interesting fractal on the SPX from last CPI to this CPI, which would lead to Friday being a potential buying opportunity and possibly an even lower low on Tesla.
There's an interesting fractal on the SPX from last CPI to this CPI, which would lead to Friday being a potential buying opportunity and possibly an even lower low on Tesla.
Comment:
Tesla is really in a prime buying area.
You shouldn't expect it to so easily make new lows after taking a huge bottom.
But also I'm not convinced it has more than $230 in it. Not like 30% isn't excellent.
You shouldn't expect it to so easily make new lows after taking a huge bottom.
But also I'm not convinced it has more than $230 in it. Not like 30% isn't excellent.
Comment:
Tesla looks like it's turtle souping the bottom.
You can hate Musk all you want, but that March '21 low was a big one and it is really, really unwise to get greedy. Dude has a lot of bear skulls on his wall.
You can hate Musk all you want, but that March '21 low was a big one and it is really, really unwise to get greedy. Dude has a lot of bear skulls on his wall.
Comment:
I have to say that Tesla traded like such a brick on Friday with no real signs that it was going to raid the bottom that it leads me to believe that the March '21 low is not the target.
Instead, I now believe this is the target, which I've had on my own charts for a while.
What come after would be a McDonald's style All Time High.
Instead, I now believe this is the target, which I've had on my own charts for a while.
What come after would be a McDonald's style All Time High.
Well, this is how Tesla always trades. But it may just be bearish.