Hey, won't make this a long idea but we can see the descending channel that TSLA has been in and I wanted to point out that we could possibly be closer to the chart's bottom soon by this point being as our pattern is looking similar to the previous chart action which we witnessed from November 2021 to March 2022 in which case TSLA had formed a descending channel and fell for those months until it experienced it's incredibly bull run from Mid March to April's start in which case we saw it essentially rocket from it's $750 price range to nearly $1200 in close to less than a month's span.
We can't say for certain if that's gonna be the same case here but I wanted to put that out for you guys since we know that while we can't predict the future it very well helps to look at past price action to get a better idea for of things. After all, you can't make history if you don't learn about something's history first.
~ Rock
We can't say for certain if that's gonna be the same case here but I wanted to put that out for you guys since we know that while we can't predict the future it very well helps to look at past price action to get a better idea for of things. After all, you can't make history if you don't learn about something's history first.
- TSLA managed to rocket thanks to the hype that almost seemed to come out of nowhere like a rocket and managed to almost send it to a new high. Following that things took a turn as covid started to come back and stocks started getting hit at inflation's issue started to become more prevalent bringing us to today with investors worrying about multiple issues from whether or not we are approaching hyperinflation,
- TSLA is now not only dealing with a market that's going through one of it's worst years so far but Elon Musk who has raised concerns surrounding the selling of his stake in TSLA and what could be in mind for the company as Elon seemingly is attempting to buy out Twitter which was much more confident just 2 weeks ago but now is looking a bit more like a 'maybe' as Elon deals with Twitter's seemingly false claim that less than 5% of it's users are bots or false.
- Keep a lookout for whether or not TSLA will continue to stick within and trade further down through that descending channel or whether or not we will see a breakout and perhaps even a large surge like we saw happen in March but even that isn't likely anytime soon as we saw huge volume jump out of the stock with hundreds of millions being sold as investors continue to get assets off their hands following the Fed's announcement to further hammer down on Inflation despite stocks slump and fear of a bear market grows. So perhaps not soon, but eventually this chart is gonna flip and we're gonna breakout, now how that turns out will be up to the market but stay tuned for more updates as we progress through this volatile period!
~ Rock
