TSLA stock is a good deal at any value below $70. I added some long position projections to represent relative risk between buying now, and waiting patiently to see if lower levels can be achieved. In this scenario, I believe that waiting is worth the opportunity risk.
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Due to the charts actions over the last few weeks, I won't be surprised if a little above $130 would be a new possible low, IF it comes back to this price, it may even take a year or longer to be achieved. $70 would still be a possibility under the right market conditions, this is still on the cards, but its a full deck, so play the hand your dealt. I'm still bullish on TSLA long term, just seems to be a little overvalued above $130 for buying, and represents great value at $70 or less for buying.
Extremely overvalued! That means nothing for those looking for a trade
cycler
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@w2p28vrr2c, It turned out that I was incorrect and that $130 would have been a good entry. Therefore, I just updated with a possible entry that could be achieved and included my best guess as to the time frame, which I think could be over a year. I would personally just sit back and observe for a few weeks and see how it performs, waiting for a pattern to perform, to get better risk reward.