This looks like a proper top in Tesla, double class A bearish divergence. How do you know when a rally is getting exhausted?? Divergences and angle changes. I have been using angle changes for a while, but never posted them on my charts, cause they are clear for the naked eye.
Leaving some wiggling aside, I believe Tesla is going down pretty heavily. I do not know about the fundamentals of this company, but technically, I would say 200$ is a realistic target. Below that, well it is all about the overall market and how strong the correction will be. Yes, a correction is coming, only question remaining is the magnitude.
PS : I don't know what happened to the first angled trend line, but the number is correct, it is 26 degrees
Leaving some wiggling aside, I believe Tesla is going down pretty heavily. I do not know about the fundamentals of this company, but technically, I would say 200$ is a realistic target. Below that, well it is all about the overall market and how strong the correction will be. Yes, a correction is coming, only question remaining is the magnitude.
PS : I don't know what happened to the first angled trend line, but the number is correct, it is 26 degrees
