I am not a stock trader and at the end of the day could care less where these assets go but do occasionally trade them when the technicals indicate the potential for large moves creating rare oppertunities.
Forcast from July 2023 linked below indicated a likely larger decline and since price has come down 40%. The forcast called for reevaluation at the main macro uptrend. Price has arrived at that trend line, broke through it and current retesting from the bottom side. If buyers fail to reclaim these level are larger decline as forcasted may become a reality.
Bear in mind these are "forcasts"... not predictions. Price is unpredictable but scripture teaches there is nothing new under the sun and reoccuring patterns are predictable. It is the job of each operator to make his or her own decisions and react accordingly to price action as it presents its self in areas of interest.
Current Trading Plan: Reenter a short postion in the 200-210 area if we see a reaction indicating a rejection. IF we see this rejection target will remain the same $70-$80. IF price brakes above the main trend again and consolidates likely will see higher prices.
Trade Well... Your Friend, Degen
Comment
⋅
Always unpopular to post charts for down side on pony tokens like tesla. There is nothing wrong with tesla. Could it be that the valuation is simply not a refection based on its actual value? As in prices driven higher than they should be by hype and free money? Time will tell but unfortunately it is not ripping and dropped 8% already. I would prefer to be wrong as a projection like this would obviously lead too massive losses. Not a prediction just a cautionary argument based solely on the tape. They may be a reason we simply don't know of that produced the signs of weakness on this chart. You simply never know what you don't know...until you do.
Comment
⋅
this chart is also "re-evaluation" chart to see if the short position should be continued. The original short projection was made much higher and linked below
Comment
⋅
Price simply broke below this long running trend and consolidated below rather than above. Doesn't really mean anything BUT is a clear sign of weakness. Re-evaluation at the trend line was to see how price responded. The updated chart is to show the brake of trend and consolidation below. If it goes up GREAT. If not make it great...
Comment
⋅
I expect this to push up today sometime for a retrace of the HIGH it put in UNDER 210. Doesn't mean it will actually reach the $70-$100 but it certainly can and is far weaker than many care to admit.
Comment
⋅
Projecting a bounce today back to 188-193 and expect a rejection again in this area
Comment
⋅
Tesla has reached critical support at 175 and as such I still expect a bounce on this but will be watching for a lower high.
Comment
⋅
Appears to be rejecting pre $180 after bouncing at critical support in the 175 area. May go higher but not a good look for continuation to the upside. Still failing to see the strength others see and simply have to trust the tape.
Comment
⋅
While doom and gloom is attractive I still expect this to bounce. The forcast calls for extremes and extremes simply don't always occur. Personally I am no longer shorting this and expect a bounce. It will be a bounce from critical support that may or may not continue. Depending on when and where it fails will determine if there is any future short plays.
Comment
⋅
The relief bounce to 180 occured and here we are at 165.... comments encouraged
Comment
⋅
After reviewing the chart price is approaching a speed line where I once again expect abounce to the 175-180 again and then we will see. It appears price will hit this around $160-165 as it is currently sitting. Price may or may not wick down to 150 level. IF it does wick down to the 150 level and recover 160 instantly take it as a bullish signal for the begining of a larger relief rally that may continue to the upside
Comment
⋅
Tesla has tapped $160 Relief Rally INBOUND
Comment
⋅
Still open to a quick wick to 150 but the trend will likely rotate back to the upside on the local. The macro we will see at the top of the relief rally how much strength buyers have vs sellers.
Comment
⋅
Comment
⋅
expecting a relief rally to the upside
Comment
⋅
relief rally over? hard to say. the forcast calls for the extreme and we may see it....
Comment
⋅
Still waiting for a bounce. A down trend of this size and length should see buyers .... like those irritated in the comments below by a short sale.... taking advantage of the discount along with short sellers taking profit on the brake of structure. Down trend may or may not continue but will not consider any more short positions with a correction with weakness.
@dhruvalchauhan3232, you may or may not be right and I encourage you to come back in a week or two and we see where things are at. I focus on technicals and when I see potential weakness I point it out and take advantage. It doesn't always work out but more often than not it does. I know nothing about tesla or what it should be valued at but like in the chart linked below the article I see weakness. It was unpopular then and it dropped 40%. Its unpopular now and we will see. I don't make predictions I simply point out reoccuring themes I see that are signs of weakness. The cause I have not idea. Come back and boast if it is wrong in a week or two and if the opisite is true well I hope it doesn't effect you negatively. Nothing wrong with tesla.
dhruvalchauhan3232
⋅
@Degen-Dynasty I am glad that you replied me. I buy more if it goes to $100.
We've been waiting for these buy my brother any sell signals these time is invalid trust me it won't fall lower than 175$
Degen-Dynasty
⋅
@mulaudzimpho, I hear you but what is your reason? Waiting for what. You very well may be correct but if you have been waiting to buy there must be a reason. Please share what it is you have been waiting for to press the buy button and why now.
Degen-Dynasty
⋅
@mulaudzimpho, you did say 175 and 177 has found some support and as such I have temporarily covered my short position but also looking for a potential rejection below 200