As you already understood from the title there is a small chance that tesla is going for 160 again.
however, that is unlikely because the trend that is contradicting this move(in orange) is built up of only 1 pivot point. on the other side, our already established bullish blue trend is proven to provide impressive support and resistance, but this strength is a double-edged sword for us shareholders, as u can see the stock is currently trying to break past the lower blue trend line and this trendline provide great resistance so it may prove difficult returning into the blue trend but once we will pass the lower blue trend line it will provide great support for the stock. To sum it up tesla is looking pretty dangerous and volatile right now but you know what they say - "With great risk comes great reward" (do not ask who said it) the risk here is around 2:1 (reward:risk) and that is pretty good but to be honest I have no clue if tesla is going up or down (hopefully up though). Only time will tell which way tesla goes and stay alert for news (because it is the biggest influence on the stock at the moment).
Buy point - 260-270 depends on the news.
Sell point - 320-340 or go for long.
Stop loss point - that's a hard one because I believe in this stock but I will go for 240-250
however, that is unlikely because the trend that is contradicting this move(in orange) is built up of only 1 pivot point. on the other side, our already established bullish blue trend is proven to provide impressive support and resistance, but this strength is a double-edged sword for us shareholders, as u can see the stock is currently trying to break past the lower blue trend line and this trendline provide great resistance so it may prove difficult returning into the blue trend but once we will pass the lower blue trend line it will provide great support for the stock. To sum it up tesla is looking pretty dangerous and volatile right now but you know what they say - "With great risk comes great reward" (do not ask who said it) the risk here is around 2:1 (reward:risk) and that is pretty good but to be honest I have no clue if tesla is going up or down (hopefully up though). Only time will tell which way tesla goes and stay alert for news (because it is the biggest influence on the stock at the moment).
Buy point - 260-270 depends on the news.
Sell point - 320-340 or go for long.
Stop loss point - that's a hard one because I believe in this stock but I will go for 240-250
Comment:
Well, I think that tesla penetrated the blue trend and now all we need to do is to relax and profit.
Comment:
With Elon Musk, you can never know... Tesla dips 11% as of right now and if you own a Tesla share (like me), you are in for a ride. Now, that Elon Musk, has been charged with fraud this stock will most likely get very volatile, for a couple of months. there is really no good side, Elon did it again. We can only hope for good.
I intend to hold my shares but stay alert because this stock is being manipulated by the news.
I intend to hold my shares but stay alert because this stock is being manipulated by the news.
Comment:
Welp, today the pre-market shows that Tesla is up 14%. Thank god I hold my stocks instead of selling. This stock is much more volatile then I thought, therefore I decrease the Sell point to 310-320 (depends on the news).