📌 Play continues with the next hole ... as in the previous () we will keep it to three main targets initially.
Now in Tesla's case, buyers are having to overcome some difficulties in development; the highs are optimally set with an island reversal, and so the tables can be turned. Timing wise this hole could not be better placed as sentiment looks set to start an attack against Tesla which has been cramped from exhaustion after all the good news (whatever that means).
.... TSLA @ 800
What is in play ? ...using TSLA as a barometer for the whole US equity board.
If Tesla loses the current structural support it will move the whole board as collateral. More gridlock on the other hand will leave us in a continuation till FED march.
For this swing, a good, perhaps better, target for 'par' is 500 (a whopping -37% drive). The extensions below at 460 and 400 are open for our 'birdie' and 'eagles'.
Thanks as usual for keeping the feedback coming 👍 or 👎
Comment
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A quick 📍 point of order here, some large hands spotted unwinding on the open, we might get the breakdown as early as the close/tomorrow.
its very unlikely that TSLA could go down 300 points, not even in March when the pandemic started there was such a drastic drop.
Valentasm
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@Luke220600, More you try sort TSLA more it goes up :D.
karl_jr
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@Valentasm, Well said. More and more people lost money shorting TSLA
SIGPokerKing
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@Luke220600, Anything can (and does) happen in the markets. It’s just as unlikely that TSLA was nearly at $900.
abel11
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here is what i think short term
The_Arena_Trader
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Wouldn't it be great if stuff just went up forever?
moskumer3
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@harrison1821, In 2000 and 2008 people thought the same. Sadly, bubbles are bound to collapse. There's a huge difference between Tesla and, say, Microsoft or Google. The latter won't collapse without some weighty reasons, whereas the former might crumble if lemmings decide to run away.
The_Arena_Trader
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@moskumer3, I completely agree. My initial comment was full of sarcasm, which can be hard to convey through text lol.
Otradehouse
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I agreed on the eventual “collapse”/reset to real values, but prior to that why not make $$? The former offers large returns in short time frames, stop loss limits the downside. What else am I missing?
The_Arena_Trader
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@Otradehouse, You're right. It's gonna go up until it doesn't.