With RSI being oversold, market sentiment going into earnings being very negative and low expectations for earnings, 140 dollars was a nice buy/DCA point
There has been a nice bounce off long term support on Tesla at 140 dollars in premarket
Where next?
Looking at the chart, there are two diagonal long term trendlines that price has bounced from multiple times as circled. If this plays out, I expect Tesla to reach 206 dollars in the short to medium term. After that I would expect some sort of pullback.
If Tesla breaks down from this Wedge, I will be adding to my Tesla position by buying at 115 dollars.
Let me know what you think
There has been a nice bounce off long term support on Tesla at 140 dollars in premarket
Where next?
Looking at the chart, there are two diagonal long term trendlines that price has bounced from multiple times as circled. If this plays out, I expect Tesla to reach 206 dollars in the short to medium term. After that I would expect some sort of pullback.
If Tesla breaks down from this Wedge, I will be adding to my Tesla position by buying at 115 dollars.
Let me know what you think