Possible bearish divergence with the price action above the ichi cloud. RSI exhibits overbought conditions. Generally, a market wide correction looks like it could drag TSLA lower, even though TSLA earnings are posting in the positive territory. Fundamentally, it bothers me that TSLA is categorized as a "Auto company" when it is clearly a tech company, batteries, code, hardware components and a chassis comprise these vehicles. They are so far removed from the vehicles we commonly drive today it is ludicrous. Their transport products even filter out air pollution, which is definitely a bullish fundamental. TSLA products like their solar roof and battery products will likely come to rule their respective markets.
I missed the buy-in at $250, so I'm setting up laddering buys at the bottom of the ichi cloud and below. Look towards price action which matches closer to the RSI 35 for ladder buy-ins. Overall, I'm super sketchy about the current state of the markets, with the volatility being what it is, but still, when TSLA hits mass adoption, and with their ever growing product line, I could see their price action matching that of AMZN in a few years.
I missed the buy-in at $250, so I'm setting up laddering buys at the bottom of the ichi cloud and below. Look towards price action which matches closer to the RSI 35 for ladder buy-ins. Overall, I'm super sketchy about the current state of the markets, with the volatility being what it is, but still, when TSLA hits mass adoption, and with their ever growing product line, I could see their price action matching that of AMZN in a few years.
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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.