Don't give credit where credit isn't due. The move up has the earmark of a short squeeze.There are 5 waves up with an extended 5th of 5. There is significant risk to the downside as the move appears complete or nearly so. A break of Wednesday's $832 low tested earlier today at $832.10 is important support, closing underneath will probably accelerate prices lower. The early morning Wedbush headline projecting price at $959 is what you see when tops are already made, bullishness is extreme for this and the entire market, a large correction is well overdue.
FX_Professor
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@pechi123, can I give you some credit for the nice comment? 😊💙👌
s_proper
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So far first correction from the top was rapidly compensated and further selling was absorbed ending consolidation. This means buying pressure is significant and although small drop to upper support is likely TESLA should resume upwards.
@s_proper, we will find out tomorrow Monday my friend. What you describe agrees with my chart
s_proper
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@FX_Professor_88,
Tesla collapsing is a guarantee, however what we should not do is decide when that happens and simply wait for it to begin to happen.
Talsa is also heavily dependent on the overall market sentiment and if Tesla is to start falling, overall market conditions have to be bad and entire market will will be in decline.
As long as the market is stable there is no reason to correct optimistic stocks or any stocks for that mater.
Wait until clear signs of market uncertainty are established then you can safely enter a short on tesla, it will not fall overnight, you will have plenty of time.
Market will likely bounce back up on Monday as it had period of compression