It's all about the 2024 guidance, at least that's the going consensus view in front of Tesla's earnings this evening. But for what it's worth, a failed uptrend during 2023, subsequent testing of pattern resistance and TSLA stock approaching its Nov low with weekly stochastics out of place, does make the case for an even larger correction.
In my humble opinion and observation (imhoo), TSLA stock could find buyers unwilling to reverse the bearish trend until more meaningful value in the $165 - $180 area is tested. As with any stock of this volatile caliber and known to make dramatic earnings-related price moves, bulls and bears in it to win it, should smartly hedge those directional bets with options.
In my humble opinion and observation (imhoo), TSLA stock could find buyers unwilling to reverse the bearish trend until more meaningful value in the $165 - $180 area is tested. As with any stock of this volatile caliber and known to make dramatic earnings-related price moves, bulls and bears in it to win it, should smartly hedge those directional bets with options.