Tesla has been moving in the bearish direction since mid-December of 2018. The bearish movement has grown even stronger since the loss reported fort he first quarter was much bigger than anticipated. On the technical side, we can see that the price has just touched an important resistance line. We expect the price to move even lower down because we do not believe that the stock fundamentals are strong enough to support its price. We do however expect the price to stop here, maybe even bounce off but our view is, that the stock is overpriced and the next big move should be bearish. Entering a short position after the price breaks below the line and gives us confirmation of a bearish move.
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We wish you good luck with your trading!
Feel free to grab a copy of our Free Weekly Market Outlook here:
[url=mailchi.mp/bc78576d6f40/freeweeklymarketoutlook ]mailchi.mp/bc78576d6f40/freeweeklymarketoutlook
We wish you good luck with your trading!
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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.