Undoubtedly we are in a big bubble. Nobody knows when it will pop and it is mainly related to EV companies and "but look at their future in 10 to 20 years." Tesla has an abysmal p/e ratio compared to any other auto maker which appears to be a dying stock category. As I said above, nobody knows when it can pop and nobody knows how far into the bubble we are. Anyway...
This is the logarithmic chart of Tesla and it appears to be forming a massive rising wedge over the past few months and continuing into June. If the hype continues for Tesla, 2000 would be the absolute tip of the rising wedge, at which point it would dump to support after support. Let's take a look at some other things however:
Every $10-11 that Tesla moves, is another point higher for SPY. Since Jan 5th Tesla has risen $140 and SPY has gone from $366 to $381. (The extra dollar was for all the other stocks in the SPY)
If Tesla reaches 1000, Spy would probably sit around the 400 area, so from 381 that would be $12 from Tesla itself and around $7 from other stocks.
If Tesla reaches 2000 by June, Spy would sit around 500, $93 from tsla and $26 from other stocks.
Anyway, if this price target holds true I think in the short term:
We see TSLA hit 1000 and spy hit 400 before we see a 20-30% drop in TSLA and also in the S&P.
This is a joke, but we are also in a bubble so who knows what could happen.
This is the logarithmic chart of Tesla and it appears to be forming a massive rising wedge over the past few months and continuing into June. If the hype continues for Tesla, 2000 would be the absolute tip of the rising wedge, at which point it would dump to support after support. Let's take a look at some other things however:
Every $10-11 that Tesla moves, is another point higher for SPY. Since Jan 5th Tesla has risen $140 and SPY has gone from $366 to $381. (The extra dollar was for all the other stocks in the SPY)
If Tesla reaches 1000, Spy would probably sit around the 400 area, so from 381 that would be $12 from Tesla itself and around $7 from other stocks.
If Tesla reaches 2000 by June, Spy would sit around 500, $93 from tsla and $26 from other stocks.
Anyway, if this price target holds true I think in the short term:
We see TSLA hit 1000 and spy hit 400 before we see a 20-30% drop in TSLA and also in the S&P.
This is a joke, but we are also in a bubble so who knows what could happen.