Checking back in with Tesla since our last TSLA analysis.
If you check our previous posts, we had bought
TSLA back at $172 and sold off at $732 (didn't catch the exact top but happy with the gains). The stock was on an unprecedented parabolic run based all on speculation. We sold off, took a short position, and sold off right where we closed the gap in our chart.
We had mentioned, Tesla had a larger market cap than GM , Ford, and Chrysler (the Big 3) combined, with a 2019 revenue of Tesla $25 billion vs the Big 3: $425 billion, which was a huge flag for us and we saw as extreme overvaluation.
At the moment we've seen Tesla drop about 54% since it's ATH a few weeks ago. It has not just hit the 200 MA on the daily charts. Looking to see if we can find some support here. I personally don't think it will hold, but we are pumping tons of $$$ at the moment. On the sidelines for Tesla for now until we feel comfortable that it's completely oversold and reached support. If it drops here, we could visit previous support in the 300's.
Shoot us a like and give us a follow as we come back with more updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
If you check our previous posts, we had bought
TSLA back at $172 and sold off at $732 (didn't catch the exact top but happy with the gains). The stock was on an unprecedented parabolic run based all on speculation. We sold off, took a short position, and sold off right where we closed the gap in our chart.We had mentioned, Tesla had a larger market cap than GM , Ford, and Chrysler (the Big 3) combined, with a 2019 revenue of Tesla $25 billion vs the Big 3: $425 billion, which was a huge flag for us and we saw as extreme overvaluation.
At the moment we've seen Tesla drop about 54% since it's ATH a few weeks ago. It has not just hit the 200 MA on the daily charts. Looking to see if we can find some support here. I personally don't think it will hold, but we are pumping tons of $$$ at the moment. On the sidelines for Tesla for now until we feel comfortable that it's completely oversold and reached support. If it drops here, we could visit previous support in the 300's.
Shoot us a like and give us a follow as we come back with more updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
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.
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.