TSLA: Tesla will get into trouble because of Elon Musk - 19%Today we're here to talk about TSLA
Today: Tesla shares are trading at 649.95. And the company looks clearly worse than the market. It is obvious that the company is highly overvalued and therefore the market needs a correction. I believe that Tesla shares need to be corrected by another 19% of the current value over the past 2-3 weeks, and then their price will be quite market. Thus, the shares need to fall down to the level of 535 - 500 dollars per security. And this is in the region - 19% of the current level. At what, as I believe, the fall will be quite sharp . And it will be mainly caused by public accusations against Elon Musk on manipulations with cryptocurrencies. After all, the fall that is now developing in the cryptocurrency market makes it possible to assume that Elon was engaged in exchange manipulations and at the same time warmed up the audience by selling goods and services from Tesla . Already, a wave is rising in the press, which will hit the value of shares up to - 19%, which will cause its sale.
Based on the above, I recommend:
If you want to go short:
It is better to open short positions from the level of 700 - 680, but limit your losses.
If you want to buy:
Buying now is too risky. It is better to refuse them or take them at a price of 535 - 500 dollars per paper.
If you are not in the market:
You can try to go short from the 680 level or wait until the market bottoms around 535 - 500 and then buy.
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Tslashort
Upcoming TSLA earnings are the downward catalystRecession is on the cards. China is locked down due to covid. TSLA earnings gonna take a pitfall because of it. -25% highly probable in next 3 months.
But before that,
- the current support around 620$ needs to be broken,
- move to 550$ and a retest of 620$ resistance. SL is confirming above 620$ level.
- If above two conditions are satisfied, it's a green flag to short TSLA.
- Finally on its way towards 470$.
TESLA short position ❌🧨Hello 🐋
based on the chart, the price is close to important support area and red trend line middle of the descending channel ✔️
if
the price break the red support area to the upside, we will see more correction at least to our channel support ❌🧨
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
TSLA weekend reviewHere is the same chart from last weekend as a reveiw. See how the predicted Orange oval area played out & $TSLA challenged both the current down channel (White) as well as the one from NOV (Blue lines)?
We played calls on $TSLA on Tues & Wed for nice gains, and remained flat on the stock for the remainder of the week. I will work up a new analysis for next week on TSLA as soon as the Volatility Range Algo is finished computing
LONG $F , SHORT $TSLAAlthough I am a huge fan of Tesla and believe they are way ahead of the competition, I think they are in for a pretty major correction. Best case $540, more realistically around $350 IMO. Especially if we head into a recession, which it looks like we might. In the meantime, I think Ford looks pretty cheap around here and will gain some significant market share.
-TSLA currently at 95 P/E ratio
-Ford at ~4.7 P/E
TSLA to 600! The Sell off Continues Soon!TSLA like much of the market will again resume selling soon.
We are looking some very minor bullish (buying) activity for the week. Maybe more so hoping for it to help prop (position) our short opportunities.
(875-900)
However we are Bearish on Tsla to 600 Minimum before we start seeing some real buyers stepping back into the market.
We do believe big picture we are in(heading into) a recession. We do not expect 600 to be the final level for TSLA.
However at 600 we can see a bounce back into the 750-850 range before selling off and back down to 300.. yes 300... very. bearish on TSLA.
Lets not get ahead of ourselves.. right now we have 600 in the scope. We are trading right below resistance and within a bearish pennant that would net the move.
TSLA is going to 500! (maybe. this is how it might get there) I believe Tesla will retrace to hit the anchored VWAP from '20 low, as well as the 618 fib from the same low, and these also align with a massive support trendline off of the log chart going way back. The timing of the current rally, Fed meetings and Tesla earnings are taken into consideration. Curious to see how this plays out, feel like this will be the last block to take a hit like this but as much as I respect the stock, it's hard to see it sliding through without that final major drawdown and what better way than a four-touch culminating in a double top?
TSLA $800 area possible target near termFibonacci levels and Elliott Wave targets stacking up near the $800 level as a possible destination in the near term.
TSLA appears to be starting its C Wave down of an ABC corrective sequence that started from 11/4/21 all time highs.
C waves require a 5 wave structure. This current move down may be the 3rd wave of the C.
If so, the 1.618 of wave 1 has a target of 813.
Multiple fibonnaci levels and a Demand zone block are converging in the same area $800-815, and could provide support for a bounce once the target is hit.
Was TSLA Tesla Sell-off Predictable ?Of course it was! When we saw the Double Top Bearish chart pattern confirmed here, at $1130:
At that time both Elon Musk and Ark Invest were selling the shares at the top!
And there were people still buying them!
New Key price targets to watch:
$595 as a strong support before a potential reversal
$720 as a strong resistance after the reversal from the Falling Wedge Bullish Chart Pattern
$420 -$475 as a Buy Area (strong support and decent valuation)
Looking forward to read your opinion about it.
TSLA Jun-Aug near term target 550Following last update, TSLA hit top descending resistance and dropped like a ton of bricks, slicing through the 700 resistance level.
This on the back of Nasdaq broad declines, Twitter uncertainty and sexual allegations against iconic Musk.
Near term looking potentially find support ground at the 550 levels, depending on Nasdaq potentially recovering from 7 weeks of black candles.
TESLA : Margin TradingA controlled short attempt..
I cannot predict the leverage and margin parameters of the brokers.
But it should not exceed 7 leverage.
No more than 10% of the total cash held should be given for all of this trade.
In the rising scenario, buying can be done before the stops.
Leverage is 7. (For all trades.)
Maturity : Same for all trades.
As a term, at least 3 - 6 months and the same maturity is recommended.
(It can be calculated at the same rates from the dirty prices there.)
May our way be clear.
My opinion is firm.
If price hits 1608.5 , this trade will be unsuccessful.
I will try to interpret the trend as much as I can according to the price movements.
Regards.
$420 blaze itIt won't be long before Musk followers turn on him.
This meme stock loves meme numbers, so I un-ironically expect it to correct down to a round number of $420.
Oh and it's underwater on it's Bitcoin PR stunt. And Bitcoin looks bleak as ever, it surely wont sit well on shareholders that their worshiped CEO gambled away all that money on a ponzi.
TSLA Tesla removed from S&P 500 ESG Index!If you haven`t seen my double top chart pattern:
Tesla doesn’t have a comprehensive low-carbon strategy, according to S&P Dow Jones Indices.
Apparently Tesla has issues including racial discrimination claims against the company and a government investigation after crashes due to its autopilot vehicles.
In Musk tweeted that he was considering taking Tesla private at $420/share and had “funding secured”.
I think in the worst case scenario we could see TSLA visiting that strong support of $420.
The most likely is a sell-off to $577.
Looking forward to read your opinion about it.
TESLA SETUP and BREAKOUT ATTEMPT Part 1There is a wolfe wave setup on the 4 hour time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target using this 4 hour period is greater than 900 which is expected to reach this price target before Aug 2022. This particular pattern allows us to position long term contracts at specific time periods. Short term target is $800 which is a level where profit taking will occur. Any pullback should be bought especially premarket gap down.
TSLA Daily Channel Going To FALL !!!as you see the price is on the floor of the up-channel and we expect down break out very soon or up-reflex that have lower possibility than breaking out the channel, and than the price will go down to the Price.leves that is on the chart (very strong)
next Targets after B.O
539$
500$
or maybe more..