Tsla trends are looking like a drop is coming in the next few weeks. With the news and the bounce back from the news, I wouldn't be surprised to see more downside in the future.
The good news, is RSI on the D and 4h charts are on the high side, the W and M are on the low side, so we may see some major support take over and lead the price up and over $1000 again before we see anther decent drop.
If it does bounce off $678, maybe $673 on the low side, and starts to confirm $700, we might see that move to the upside.
I'm thinking short on Monday or Tuesday of next week, and see how low it can go, I'd look to enter around that $674-$679 price, and ride the wave up to $707 or so, and see if we hold $700, which could allow for a push up to $902.
The good news, is RSI on the D and 4h charts are on the high side, the W and M are on the low side, so we may see some major support take over and lead the price up and over $1000 again before we see anther decent drop.
If it does bounce off $678, maybe $673 on the low side, and starts to confirm $700, we might see that move to the upside.
I'm thinking short on Monday or Tuesday of next week, and see how low it can go, I'd look to enter around that $674-$679 price, and ride the wave up to $707 or so, and see if we hold $700, which could allow for a push up to $902.
Comment:
Update: TRY not to catch a falling knife, it will usually lead to some red in your portfolio. The gap at $420 is big, and it could lead to more downside, so I'd wait for conformation on the turn around.
Comment:
Time to see how far this drop takes us
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