Correction, how deep could be(corrected version)
This is the corrected version of the previous analysis!
Unfortunately, in the last one, I compared the Tesla chart with previous corrections in fb!
But what makes me to do this kind of analysis is that the Tesla shares could go down even further than the previous estimation..!
Could Tesla slip to its 200 EMA level and below? Answer: Yes, Of course, it could!
Based on the 2 previous major corrections tesla had experienced in 2018 (when there was no pandemic), and the correction it experienced in early 2020 due to pandemic. During the 2018 major correction, tesla slipped 53% in 120 trading days and crossed below its 200 EMA , and in the 2020 correction tesla slipped 64% in 30 trading days.
So far Tesla has slipped 31% in 20 trading days, which means the correction in nature is pretty similar to the last 2 major corrections, and speed of correction is close to the average of them..!
Q: Would Tesla go down to touch its 200 EMA? Answer: we have to wait and see!!!
I personally would not be surprised if I see Tesla below 500 USD/ share in the coming months!
Moshkelgosha
Unfortunately, in the last one, I compared the Tesla chart with previous corrections in fb!
But what makes me to do this kind of analysis is that the Tesla shares could go down even further than the previous estimation..!
Could Tesla slip to its 200 EMA level and below? Answer: Yes, Of course, it could!
Based on the 2 previous major corrections tesla had experienced in 2018 (when there was no pandemic), and the correction it experienced in early 2020 due to pandemic. During the 2018 major correction, tesla slipped 53% in 120 trading days and crossed below its 200 EMA , and in the 2020 correction tesla slipped 64% in 30 trading days.
So far Tesla has slipped 31% in 20 trading days, which means the correction in nature is pretty similar to the last 2 major corrections, and speed of correction is close to the average of them..!
Q: Would Tesla go down to touch its 200 EMA? Answer: we have to wait and see!!!
I personally would not be surprised if I see Tesla below 500 USD/ share in the coming months!
Moshkelgosha
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