***Warning Monday Jan 2nd (Market is Closed) - Q4 EV Deliveries - good report then TSLA will complete H&S pattern and continue Bullish Island Gap Reversal
Positive: `TSLA is Very Oversold, we could see a continuation of this bounce up too 150-180 if production release is great on Monday. -Bullish Chart patterns show inverse H&S pattern created by Island Gap Reversal. LARGE Buying Volume strong-sign of institutional investment - this could be accumulation phase Beginning of January tends to be positive for the stock market NDX & SPX showing signs of upcoming relief rally (*before we make final leg down) HYG & JNK Bonds are showing bullish divergence
Negative: Monday possible less deliveries than expected -if is lack luster I can see TSLA dropping 7-12% to retest the low China Covid Cases/ Shanghai Factory Slow production Tesla is still in a Strong Bear Market pattern Elon and Twitter Drama Earnings report on the 23rd - with factory issues, supply issues - it does not look promising Macro H&S Pattern puts the measured decline to $90-$80 range
Sentiment: Short Term -Swing /Day Trading -I am only Bullish for the Short Term* (1-2 weeks) . Long Term Investing: I am Bullish for Long Term (5 yrs) ....over-all I would choose the $109 area as 1st pt accumulation / $80 area second point / $60 area 3rd pt (TSLA will Grow 25% Sales YoY for next 5yrs) PEG ratio looking good
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