Tesla is nearing a very long term weekly support with lots of fud last 2 weeks and last statement report didn't bode well. When putting trend, time * price in to consideration, from TA point of view believe it or not nearing undervaluation since IPO, but can be debated since the angle * is pretty steep while it was in distribution mode a long time, so top measurement is taken as well (cyan diagonal lines).
Looking for buys for Tesla, but first gotta see if this purple support gonna hold, if not, a break and close (no sfp) could result in further drop to $205-$215 with possible capitulation in to purple box which I'm going to buy (yep, I put low ball bids for longer term trades to get more roi). This latter scenario is not what I expect to happen, that's why I do this and if it support is held higher, then I will happily trade it as well. For me it's a safer pick for portfolio, because it has government subsidizes and powers that be push this agenda/world vision. I know many people hate it, but can't deny that all illminati stocks are performing best since WWII...
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Bounced of purple (weekly) support, watching pa closely
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So far looking good, a spring has been printed. A break and close today above 247 is bullish.
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Flipped bearish, waiting for my idea to unfold atm for entry.
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Trade closed: target reached
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That was fast :) Looking how it develops before buying. If $180-190 gets nuked, then bagholders might be in some big, big trouble.
Well done! Looking forward to panic selling to buy ;-)
CryptoSwindle
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@kurochig, Thanks buddy :) Haha, yeah, me too. But not yet for me, this dump is scary :) I rather scale in some around your target, can bounce here though for some nice %, but not feeling comfy at all.
kurochig
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@cryptogast33, Right. We're going to have some oversold bounces for sure, could be played ... but I'll pass on it as well. Will wait for long term HODL in target area
CryptoSwindle
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@kurochig, That is sound thought, I'm with you :) Upgrading my office in the meantime, May still has some time left before expiration ;)
kurochig
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@cryptogast33, Good luck with your project ;-)
CryptoSwindle
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@kurochig, Thank you buddy and you with the trades :)