TheTrade_Sniper

TESLA (Short and Long-Term situation)

Short
NASDAQ:TSLA   Tesla, Inc
Tesla Breakdown:

While the current price and valuation of Tesla on paper seem reasonable to most, the fundamental breakdown of the company's growth in such a short time is one of the most crucial factors. A lot of its bigger movements have been closely related to timing and news. While this is by no means a bad thing, its projection as a company from the standpoint of COVID Crash has it at one of the most overvalued companies SIMPLY IN TERMS OF PRICE based on the price action the past year. With the given state of the market, the way to approach something so valuable and expensive would be playing the downside once it breaks the 700's to around 500 only if the market continues to roll over. While it seems so given the not-so-good situation we are in, remain objective especially through the 700's as there are many levels to go through. If its price action breaks multiple MA's within a day or two, consider the potential to more downside, if it holds, we could potentially see ATH .

If it does level off from a pullback under or around $500, consider taking on some positions for the long term as their growth combined with the advancement of society towards EV makes this quite literally too big to fail. While those words should nearly never be uttered, Elon Musks' participation as an Owner for their company provides an incredible type of value that isn't found often. Especially with him and Bitcoin , Tesla could have quite the future in store.