Tesla has been trading in a sideways range between $220 - $290 for the last several weeks, a sign of what may either be a potential accumulation, or another distribution range which ultimately ends in lower prices.
At the moment, we are at an interesting zone, being the low of the range with earnings coming into effect tomorrow.
Although there is a lot of stipulation behind Elon's current credibility working for Trump, it is clear that the overall market sentiment is at extreme lows for Tesla.
Given this, the earnings tomorrow may be a liquidity catalyst event that may shoot this stock back up into a recovery. Perhaps Elon announces his resignation from Doge, or Tesla earnings surprise, or perhaps Tesla is not affected by tariffs as badly as people may think.
Technically, Tesla is sitting at a key zone being the POC (point of control) also known as the most traded zone of the last 4 years. Should a bounce materialize, it would make sense for it to take place around this price. We are also seeing what may be considered a bullish harmonic playing out during this recent volatility.
Either way, we cant predict, we can only manage our risk. The expected move for tomorrow is + or - 10%. Budget accordingly.
At the moment, we are at an interesting zone, being the low of the range with earnings coming into effect tomorrow.
Although there is a lot of stipulation behind Elon's current credibility working for Trump, it is clear that the overall market sentiment is at extreme lows for Tesla.
Given this, the earnings tomorrow may be a liquidity catalyst event that may shoot this stock back up into a recovery. Perhaps Elon announces his resignation from Doge, or Tesla earnings surprise, or perhaps Tesla is not affected by tariffs as badly as people may think.
Technically, Tesla is sitting at a key zone being the POC (point of control) also known as the most traded zone of the last 4 years. Should a bounce materialize, it would make sense for it to take place around this price. We are also seeing what may be considered a bullish harmonic playing out during this recent volatility.
Either way, we cant predict, we can only manage our risk. The expected move for tomorrow is + or - 10%. Budget accordingly.
Note
Exactly as predicted
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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.