TESLA Huge gap down after Earnings! Buy opportunity in disguise?
Tesla (TSLA) was down more than -8.00% in pre-market trading after reporting its lowest profit margin in over five years and missing second-quarter earnings expectations. This was largely due to cut prices to revive demand and increased spending on AI projects.
This however can technically be a buy opportunity in disguise as following the ATH Lower Highs trend-line of November 2021 break-out, a new bullish potential emerged and the pattern may very well be a Channel Up as so far the rally since the April 22 Low resembles the 7-month Bullish Leg following the January 06 2023 bottom.
The Target can be within the Resistance 2 level and a potential +194.87% rise (previous Bullish Leg) range. We update our long-term Target to $380.00, slightly below Resistance 2.
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This however can technically be a buy opportunity in disguise as following the ATH Lower Highs trend-line of November 2021 break-out, a new bullish potential emerged and the pattern may very well be a Channel Up as so far the rally since the April 22 Low resembles the 7-month Bullish Leg following the January 06 2023 bottom.
The Target can be within the Resistance 2 level and a potential +194.87% rise (previous Bullish Leg) range. We update our long-term Target to $380.00, slightly below Resistance 2.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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