For years I've been listening to people explain how overvalued TSLA is. Maybe it could be argued that this stock is largely priced by investor excitement. And now investors are getting kinda worried. There is lots of competition now. There are other really cool electric cars out there, some even for reasonable prices. Electrics are the future. So maybe TSLA's valuation is about to get a bit more real?
Anyway... TSLA is coasting down, but where will it bottom? When a stock is deflating like this, I wonder if it's reasonable to assume that it'll hit resistance at each historical peak on the way down. Is the TSLA bus going to hit each stop on the way down? Can charts tell me where those stops are?
I guess it's not unreasonable to predict that this bus is going all the way to 250 town...
Anyway... TSLA is coasting down, but where will it bottom? When a stock is deflating like this, I wonder if it's reasonable to assume that it'll hit resistance at each historical peak on the way down. Is the TSLA bus going to hit each stop on the way down? Can charts tell me where those stops are?
I guess it's not unreasonable to predict that this bus is going all the way to 250 town...