A long-term support trend-line ongoing since March 2020 was broken down Feb, March 2022.
Since, we had a false break back up April 2022 and the price went back below breakout very quickly, as well as retest of the long-term breakout down once again.
630 - 540 is support range and if holds may be the lowest point we will see for Tesla.
A break below may open the way to 350-200. A break below would be a weekly open below 540.
A correction back to 750 is possible within the down-trend (connecting highs trend-line).
The fundamentals going for Tesla are simple : Technology, tracking, real estate, branding, CEO
The fundamentals against Tesla are : Recession, inflation, overpriced auto manufacturer, supply issues, Twitter deal instability
Overall - We may be going to a heavy landslide with a close below 540. Keeping above is a good bullish sign.
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Thank you so much for reading! If you found my idea useful please like and follow - It would truly mean a lot to me.
If there's any questions or comments please don't hesitate to ask.
I am not a financial advisor and encourage everyone to do their own research, thank you :)
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Since, we had a false break back up April 2022 and the price went back below breakout very quickly, as well as retest of the long-term breakout down once again.
630 - 540 is support range and if holds may be the lowest point we will see for Tesla.
A break below may open the way to 350-200. A break below would be a weekly open below 540.
A correction back to 750 is possible within the down-trend (connecting highs trend-line).
The fundamentals going for Tesla are simple : Technology, tracking, real estate, branding, CEO
The fundamentals against Tesla are : Recession, inflation, overpriced auto manufacturer, supply issues, Twitter deal instability
Overall - We may be going to a heavy landslide with a close below 540. Keeping above is a good bullish sign.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thank you so much for reading! If you found my idea useful please like and follow - It would truly mean a lot to me.
If there's any questions or comments please don't hesitate to ask.
I am not a financial advisor and encourage everyone to do their own research, thank you :)
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Trade active:
Bounce from 630 connecting lows support, could go to 750 retesting resistance trend-line