We know covid is taking hit on companies, yet TESLA is a beast like no other. I'm not bearish nor have any position on this and would just like to give a heads up on levels to watch for on a pull back with earnings. Looking at the order book the past few days I've notice that the only buys and sells were from small investors and the 100 share buys are nowhere this week.
News
-Tesla is expanding heavily in ASIA and looking to open a factory in Texas, which is rumor after the recent California news on lockdowns of Tesla's factory.
-There is a growing demand and they are the only ones that are exceeding in the green energy automotive sector.
TA
Not gonna give you a bull case because I have no clue, yet a famous investing group ARK said bear case is 1.5k to 7k and someone also said their max was 25k. I'm just gonna let you know supports and if TESLA is a bubble where to expect to buy.
-Supports where TESLA went sideways before its run ups were at 1354.74, 989.16, and 824.83
-If you believe in TESLA its best to take some profits without selling all your position
-If this was a bubble a 70% correction takes TESLA all the way too 529.89.
-MACD is showing bearish action
-RSI is a little overbought, but could move higher
-volume is dropping, yet can be seen in the live trade orders
Bubble
Signs of a bubble can be seen since its last earnings that grew attention that took from its $200 price to $900.
First is early birds before the first $900.
Than the first sell off
Than just sideways than it grows momentum
Than talks start going around
Media jumping on board
Institution FOMO
and Boom
Not saying its gonna pop anytime soon since TESLA is focus on expanding and could grow more long term, yet short term be wary of what could happen. I believe in TESLA spaceX program with going to mars and I'm not too worried about missing out since you can make money anywhere, yet with Ark giving a price target of another 7x and even 25x you might want to take some profits before eod. Again good luck to all the holders and long TESLA longterm but wary short term.
News
-Tesla is expanding heavily in ASIA and looking to open a factory in Texas, which is rumor after the recent California news on lockdowns of Tesla's factory.
-There is a growing demand and they are the only ones that are exceeding in the green energy automotive sector.
TA
Not gonna give you a bull case because I have no clue, yet a famous investing group ARK said bear case is 1.5k to 7k and someone also said their max was 25k. I'm just gonna let you know supports and if TESLA is a bubble where to expect to buy.
-Supports where TESLA went sideways before its run ups were at 1354.74, 989.16, and 824.83
-If you believe in TESLA its best to take some profits without selling all your position
-If this was a bubble a 70% correction takes TESLA all the way too 529.89.
-MACD is showing bearish action
-RSI is a little overbought, but could move higher
-volume is dropping, yet can be seen in the live trade orders
Bubble
Signs of a bubble can be seen since its last earnings that grew attention that took from its $200 price to $900.
First is early birds before the first $900.
Than the first sell off
Than just sideways than it grows momentum
Than talks start going around
Media jumping on board
Institution FOMO
and Boom
Not saying its gonna pop anytime soon since TESLA is focus on expanding and could grow more long term, yet short term be wary of what could happen. I believe in TESLA spaceX program with going to mars and I'm not too worried about missing out since you can make money anywhere, yet with Ark giving a price target of another 7x and even 25x you might want to take some profits before eod. Again good luck to all the holders and long TESLA longterm but wary short term.