TESLA - simplest possible theoretical TA

These are my thoughts on TSLA. They are meant to give you an idea, not trading advice.

To be honest, I didn't want to look into TESLA, because I thought it would just be a giant bubble, and bubbles a not worth your money unless you're lucky enough to have bought them at the start.
Buy the rumor sell the news.

But since TESLA is a company that does excite me very much, just like everything else Elon Musk is getting involved in, and is actually worth this price, I tried to do the simplest possible TA on this stock by using the fibonacci tools.

I do believe TESLA will hit 1450 - 1500 somewhere in the following weeks, probably this week.

I'm pretty sure bears are placing big entries at that level, and will push price down to somewhere a bit lower than 1000, maybe as far as 750 - 800. From there on I believe bulls will take over this show again, to push price to new highs.

Let's watch this circus together, and PLEASE be careful when entering this stock!

Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE

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PS: I will definitely be making updates here. Stay tuned.

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ok guys, there's a second option to this chart, setting all targets just a little bit lower. That would mean we have reached the new ATH, and bears are about to step in the game. I'm not saying it can't go higher, I'm saying it's becoming very risky. It had a massive run, RSI is very overbought, and it's close to the fib resistance. If Tesla want's to keep the value of it's stock just a little healthy :-) it needs a correction at these levels.

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I dove in on a little more detail here.
Understand that the momentum on this stock is strong and bullish, so this is not to say it WILL drop, it could see further upside.

If Tesla drops, this could be the more detailed scenario:

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I took the blue candles from another bullish stock that is comparable with Tesla, and there's a lot of structure that's alike. I have to admit, I don't think Tesla will drop this far down. If it can get back to 1K, that would be a potential entry point for me.
Let's first see how it acts before we jump ahead of ourselves.
Also, please don't get tunnel visioned by this analysis. There are ALWAYS other scenarios that have as much of a chance to play out.

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Guys, the momentum on the S&P seems to be very bullish and could very well push higher. That would mean Tesla can still pump.
So be careful with those shorts!

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I would really like to see this come down towards the 1000$ range. I think this is an ABC correction, now in wave B going up a little. Wave C should come further down.

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you can see the same thing happend from Feb till March.