Hello fellow traders and investors, here's another trade idea.
TSLA has recently pulled back to the 200SMA and to the trendline, previously TSLA tends to make a reversal whenever it approaches the trendline. If TSLA makes a full recovery it offers a little bit over a 37% ROI .
Technicals:
The Macd indicates that TSLA is oversold
The Ema's indicate that TSLA is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
There are two options on where to sell. The first option would be to sell at its previous high which offers around a 37% ROI and the second option would be to sell at the upper trendline which offers around a 45 to 50% ROI.
NOTE: The technicals on Tesla look amazing however the fundamentals indicate that Tesla is overvalued however if Tesla's EMA's crossover and the Macd indicates that it is reversing then I will proceed to buy some shares. I recommend you analyze Tesla on a higher timeframe like the 4HR or the Daily for fewer fakeouts.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like and follow, Thanks.
TSLA has recently pulled back to the 200SMA and to the trendline, previously TSLA tends to make a reversal whenever it approaches the trendline. If TSLA makes a full recovery it offers a little bit over a 37% ROI .
Technicals:
The Macd indicates that TSLA is oversold
The Ema's indicate that TSLA is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
There are two options on where to sell. The first option would be to sell at its previous high which offers around a 37% ROI and the second option would be to sell at the upper trendline which offers around a 45 to 50% ROI.
NOTE: The technicals on Tesla look amazing however the fundamentals indicate that Tesla is overvalued however if Tesla's EMA's crossover and the Macd indicates that it is reversing then I will proceed to buy some shares. I recommend you analyze Tesla on a higher timeframe like the 4HR or the Daily for fewer fakeouts.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like and follow, Thanks.