I fear for this stock, Jaguar, Porsche, BMW, Mercedes, and basically everyone is introducing their own electric vehicles, Tesla is not the prettiest girl in school anymore. I am seeing a "death Cross" yes! that's what it's called, when the 50 & 200 Daily EMA's cross to the downside. Price has hit a previous support/resistance area, which is inline with the 61.8% Fib level, MACD in this case is confirming the downward trend, the last candle did not produce anything "cool" like a shooting start on a technical level, but you can see rejection in it's wick. Let's see how this plays out, I see earnings coming up...laughable. Maybe Tesla can call then "lack of earnings". I will say this. I fully respect Elon and what that crazy guy can accomplish, I watched his documentary years ago...that playboy had the world against him and now the SEC is gripping about some fraudulent tweets;) isn't that what Trump does on the regular? anyways...I'm off topic here. I would not be interested in this stock if I had to rely on that pesky little thing called gains. saying that, if anyone watches Real Vision...they use the term polarizing...people just love to hate this and hate loving this baby....one can always be wrong. 1% risk 2:1RR - Happy Trading!
Trade active:
Wow, that was quite the drop...lets see what happens to this Gap?
Trade closed: target reached
Comment:
I honestly don't think Tesla is ever really coming back to this analysis original valuation ($298)...certainly not anytime soon.
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