Are you waiting to buy Tesla like me? Do you think you can buy Tesla in the 700s? Are you concerned about the impact of supply chain issues on EV companies?
News: Just a few hours ago, TESLA in a securities filing said that it wouldn’t be able to file a proxy statement until sometime later this year, and did not provide a specific timeline. They missed the April 30 deadline for filing its shareholder proxy after the end of its fiscal year on Dec. 31.
Like you all, I'm waiting on details of the anticipated share-issuance vote which should “enable a stock split".
In the meantime, let's see what the charts are saying (keeping in mind that we have a major catalytic event coming up on May 3rd & 4th; increase of interest rates by 50 basis point).
EMA ( Exponential Moving Average ): Price action is below the 200 EMA (discount buying opportunity) Price is also below 20/50/100/200 EMA and are all pointing downwards! With the 20 EMA crossing the 50 EMA and both pointing downwards, this is bad news; we have a death cross in the making.
TTM Squeeze: Squeezing to the bottom; and price currently at a hidden resistance.
Fib Levels: with the price below the 1 fib and headed towards the 1.618, their is a high probability that if it fails this current resistance (support line) it would go $800 (1.618 fib level). Worst case scenario, we could get an opportunity at $733.
Candle Stick: Summary of last 5 candles equate to a bearish movement. The last pairs look like a Bearish Harami or Tweezer... weird... didn't even allow for the 3 black crow.
RSI: Not overbought or oversold. At 37, it would be nice if it comes down to 30 or lower for a good entry point
Pattern: Down by the sea ... off to the Falling Wedge
History: The stock is down about 19% so far this year... Everyone and their mama is talking about this stock (Every stock split is the poor man's gold)
Company is worth Trillions and the consumer base love Tesla to the point that the have a cult like following... hmm... I really need to be buying the bottom.