More than 1 year ago we gave a buy recommendation on Tesla when the price was trading at $205 after a a sharp fall:
Last January we upgraded our final Target for this cycle to $1,270:
Despite the drawback due to the coronovirus lock-down, Tesla reached our long-term target and we've already closed all positions on that stock. We recommend long-term investors to do the same and focus on buying the next pull back.
The reason is the RSI on the 1W chart which is not only overbought (RSI = 79.078, MACD = 184.820, ADX = 52.644) but it mainly reached the limitations of our pressure zones. As seen on the chart, the 1W RSI has entered the orange overbought zone, which back on the identical cycle of 2014, it rejected the price back towards the 1W MA50. When the RSI hit the red Buy Zone, TSLA had a buy signal again.
We expect a similar behavior as so far this model has served us very well long term.
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This is the best analysis I've seen so far, and I STILL CANNOT MAKE UP MY DANG MIND.
Thank you, for this, though.