TSLA
has been in a massive short squeeze and gained over 100% since the start of 2020. Yesterday ARK Invest raised the price target to 7000$ per share. Nevertheless - it should be obvious that the current price surge is a complete exaggeration which needs to consolidate very soon. Although it is difficult to find the target for the blow-off top - I like to suggest a target which might be a promising entry point for a short trade.
Comment:
Price target was quite precise predicted though :). I guess the stock will move down to at least 710$ and later 620$.
Trade closed: target reached:
Target 1 @ 710$ reached!