WATCH SUPPORT LEVELS TO PAY ATTENTIO! Short Term Price Target $155.27 to 146.54
1. Tesla's Stock Price Below $100.00: The fact that Tesla's stock could drop below $100.00 suggests a significant bearish sentiment in the market. Investors may be concerned about the company's performance or broader economic factors impacting the stock.
2. Possibility of Dropping Below Support #1 and Ascending Support Line: If Tesla's stock breaks below Support #1 and the ascending support line, it indicates increasing selling pressure and a potential shift in the trend. This could be a signal for traders to anticipate further downside movements.
3. Potential Decline to $118.68 - $91.10 Range, Potentially Breaching Support #2: Breaking below the ascending support line increases the likelihood of a decline to levels between $118.68 and $91.10. Breaching Support #2 could intensify the downward momentum, leading to further losses for Tesla's stock.
4. Gap Fill at $75.69: Should the price breach Support #2, there's a chance that Tesla's stock might fill the gap observed on January 25 and 26, 2023, at $75.69. Gap fills often act as significant support or resistance levels and could influence future price movements.
5. Potential for Return to Pre-COVID Levels: Whether Tesla's stock could return to pre-COVID levels depends on various factors such as the company's fundamentals, market sentiment, and broader economic conditions. While it's possible for stocks to recover from downturns, it would likely require positive catalysts and a favorable operating environment for Tesla to regain its pre-COVID price levels.
In summary, the outlook for Tesla's stock appears bearish in the near term, with potential further declines and a possibility of returning to levels observed during the COVID-19 pandemic. However, long-term prospects would depend on the company's ability to address underlying challenges and capitalize on growth opportunities.
NFA PLEASE, DYOR/MYOD!!
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@snipdapipz, Hope that buy signal works well for you ;^)
snipdapipz
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@vrb8m6kps buy low, sell high and price keeps getting lower ✅
rgorre
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Lot of tesla fans are going to get hurt with your analysis. A year ago when tesla was trading at 260s, I said it is headed lower and may be near 50s.. many didn't believe and I had to take a lot of heat. I am not much of a chartist, I didn't understand why a large toy car shop should be valued so much. They can make only one type of car - electric; compared to conventional car companies that can make any moving thing. Valuing tesla more than all of those combined is nothing but madness. This hero also sunk many with dogecoin. Good luck tesla fans!!
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