Checkout the two regression channels of Tesla in weekly chart. At the top of the latest downtrend and in the middle of the bigger downtrend channels.
Bull case: TSLA goes to $770 then retests $735 and goes to the top of the main channel, $880-$900
Bear case: TSLA cannot break $735, goes back to low $600.
No matter where it goes, TSLA is at a very curios place.
Bull case: TSLA goes to $770 then retests $735 and goes to the top of the main channel, $880-$900
Bear case: TSLA cannot break $735, goes back to low $600.
No matter where it goes, TSLA is at a very curios place.
Comment:
TSLA is trying to breakout from the smaller channel. I think it will go to 706-710 may be $735 area to the middle of the bigger channel. I do not believe TSLA and market has enough steam to push to the upper band - $880-900. Great short at $710-735.