Tesla's stock movements is heavily tied to the broader market (Nasdaq/tech stocks). As a momentum play one needs to keep the broader market in mind when trading. The pitch fork tool is an effective tool to use for entry and exit points. in this case, there are two short term plays possible next week. Either continued sharp movement down to lower values, testing recent lows or a sideway or slightly uptrend. both options are depicted by the pitch forks but the general long term trend is downward and confirmed by the hidden divergence.
Good luck investing.
I personally believe that the Nasdaq Composite will drop to 4000 before a bounce up.
Best wishes trading and good luck!
Good luck investing.
I personally believe that the Nasdaq Composite will drop to 4000 before a bounce up.
Best wishes trading and good luck!