The price bounces from the support level. RSI is in the oversold zone but it will be able to confirm the reversal soon. MACD lines, histogram support the downward movement. DMI also confirms the bearish trend and the strength of sellers. All these signals confirm the further falling.
But the price bounces from the support level. If the market gives us several bullish candles, all these indicators will provide reliable signals confirming the price reversal and the further upward movement. It will give us a very interesting buy opportunity not far from the local bottom and with good space for making a profit.
For as far as we now, in this clear downtrend every bounce might just be a rally for short selling into.
DLavrov
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@Rugova, I would like to be buyers trading stocks. For this we just need to pick the right companies. From my point of view Tesla is the right company.
Grandmaster_Nitemare
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@DLavrov, Really? I think the company is still completely overvalued, because of money printing and the "green wave". But is a Tesla car really so "green"? The battery production is very "dirty" and electric energy has to be produced somewhere and loading is still a big problem.
Better buy a Lambo with BTC! :-)
But now is not a good time to short it, I agree with that chart analysis!
MrMarketMaker
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@Grandmaster_Nitemare, It is actually not that dirty to produce, it's been proven. Look into the research. Just another false claim by TSLAQ.
scurry
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@MrMarketMaker, and... they are about to pivot to a dry process that requires no solvents at all. This removes most of the toxic byproducts required to manufacture batteries.
Captainsmugglebutt
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@scurry, and.... they're still hemorrhaging cash and have serious demand issues. Not to mention the fact that their moat on electric vehicles has been consistently eroded by other vehicle manufacturers who don't have half the problems that TSLA does!
Please remove indicators sir, that's not how the Big Boys trade.