In several charts, you could make the case Tesla is going to drop further. However, I think this is a long anywhere in the green box. We may dip briefly below the 0.236 fib level then pop back above. We haven’t dropped more than 10% below the daily 50 MA since everything dropped last March. We are almost there now. If you are not already in, anything between $710 and $667 would be a buy to me.
On the Fibzia daily, you can see anytime we have dropped in the lower lower fib level in green, it has been a great buy opportunity after March 2020. Dropping just a little bit more in the next two days would put it into this green fib area.
On the Fibzia daily, you can see anytime we have dropped in the lower lower fib level in green, it has been a great buy opportunity after March 2020. Dropping just a little bit more in the next two days would put it into this green fib area.
Comment:
Weve dipped through the green box with a wick and settled inside. The Fibzia has just dipped a wick down into the green buy area mentioned above. It may do so again, but this where I buy incrementally and already have started.
Comment:
Things still going along nicely here. Plenty of chances to average down to best price in the green zone.
Trade closed manually:
Though I'm bullish on Tesla as a whole-- this particular trade setup is invalidated as the dip has exceeded the expected boundaries