What if it’s a bottom?
The price had two gap-ups during the bull market,
and both of those gap-ups have been fully filled.
The current price has returned to the final resistance line, which acted as support after breaking out of a triangle consolidation pattern.
Therefore, no matter how bad the sentiment around Tesla is, seeing how it has already dropped so sharply in such a short period, I’m thinking it might be a good time to buy now. Many people might laugh at this, and mentally it’s a scary zone, but from a chart perspective, it feels like an attractive price to buy. Today, I personally took a bold step and made a purchase, but if it falls further, I’m looking at a worst-case scenario of $170. By then, there will likely be a lot of people underwater, and it could take a long time to reach the previous high. However, if that happens, I plan to buy 2.5 times the amount I currently hold. Tesla has always been a tough stock, but this time, with variables upon variables, along with Tesla’s business and political issues, it’s truly chaotic. I hope everyone makes a profit.
(Just my personal opinion)
The price had two gap-ups during the bull market,
and both of those gap-ups have been fully filled.
The current price has returned to the final resistance line, which acted as support after breaking out of a triangle consolidation pattern.
Therefore, no matter how bad the sentiment around Tesla is, seeing how it has already dropped so sharply in such a short period, I’m thinking it might be a good time to buy now. Many people might laugh at this, and mentally it’s a scary zone, but from a chart perspective, it feels like an attractive price to buy. Today, I personally took a bold step and made a purchase, but if it falls further, I’m looking at a worst-case scenario of $170. By then, there will likely be a lot of people underwater, and it could take a long time to reach the previous high. However, if that happens, I plan to buy 2.5 times the amount I currently hold. Tesla has always been a tough stock, but this time, with variables upon variables, along with Tesla’s business and political issues, it’s truly chaotic. I hope everyone makes a profit.
(Just my personal opinion)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.