Tesla had extremely high implied volatility which led it to a shooting star to roughly 960 or so not too long ago. Like all shooting stars, they must come down and the real question is where is the support.
Tesla has found support on my primary trend-line, and until proven otherwise (i.e. drop in the secondary trend-line as I have shown here), the trend will be a grind upwards to new ATHs.
Volatility has waned and the overall sentiment has reversed to slightly bullish. Contrary to what other people believe on TV, gaps can remain unfilled for decades before being filled and only under a scenario of Tesla having brutal and consecutive quarters could I see Tesla sharply breaking down.
New ATHs could be roughly 1.5 months away, however, the stock remains constructive.
2020 Target: 900+
- zSplit
Tesla has found support on my primary trend-line, and until proven otherwise (i.e. drop in the secondary trend-line as I have shown here), the trend will be a grind upwards to new ATHs.
Volatility has waned and the overall sentiment has reversed to slightly bullish. Contrary to what other people believe on TV, gaps can remain unfilled for decades before being filled and only under a scenario of Tesla having brutal and consecutive quarters could I see Tesla sharply breaking down.
New ATHs could be roughly 1.5 months away, however, the stock remains constructive.
2020 Target: 900+
- zSplit
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Related publications
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.