Upside potential on $TLSA Im back again with an analysis on Tesla (please feel free to check out the previous one: )
Tesla has had a rough couple of weeks more related to political sentiment than the company fundamentals itself. Now Tesla is testing a key support level highlighted by
1) the trendline support
2 the anchored Vwap from the low of April 2024
3) The Fibonacci 38.2% level
Should this support level hold (because we know nothing is guaranteed), We should see some serious upside. Target 1 would be to regain the $485 all time high and target 2 would be the 1.618 Fib level currently sitting at $689 (you read that right). The reason I like this trade is that it is a very low risk in the sense that it is sitting on the support level therefore you can manage risk fairly easily and keep it small if it doesn't hold. This is however a mid to long term play.
Feel free to comment what stock you would want to see me cover or what indicator and ill make some time for it.
PS this is for educational purposes only and this is not a trade recommendation in any way or form.
Stay green.