Tesla is range bound. Here are the technical levels to watch
I think EVs are a very good investment long term. and Tesla is definitely the best EV company. but recently every stock in the market including Tesla have been crashing.
you can see in the chart below that Tesla officially broke its long-term uptrend 3 months ago. it is currently consolidating in a range pattern. is it a good time to buy now? will we get a balance off of this slow? or is the market going to continue to fall as well as Tesla?
you can see in the chart below that Tesla officially broke its long-term uptrend 3 months ago. it is currently consolidating in a range pattern. is it a good time to buy now? will we get a balance off of this slow? or is the market going to continue to fall as well as Tesla?
you can see this range more clear with the daily candles in the chart below. currently the price is at mid-range. personally for me to make a play I will need a support or resistance level to play off of. so I might wait till we climb to resistance or drop down to support before deciding on a short-term play.
below I have highlighted a downward trending support which I will be watching. if we do break out above the current range Tesla is trapped in then this downward trending resistance must be taken out as well.
I should also mention if you are trying to short Tesla but you do not like the risk of the options game. then he should check out this new inverse leveraged ETF for Tesla. $Tradr 2X Short TSLA Daily ETF (TSLQ.US)$
there are some good trade ideas in the link below. you will find more links to more ticker symbols if you follow the breadcrumbs
$S&P/ASX 200 (.XJO.AU)$ $FTSE Singapore Straits Time Index (.STI.SG)$ $CSI 300 Index (000300.SH)$ $Hang Seng Index (800000.HK)$ $SSE Composite Index (000001.SH)$ $SPDR S&P 500 ETF (SPY.US)$ $Bitcoin (BTC.CC)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $Apple (AAPL.US)$ $Meta Platforms (META.US)$ $Citigroup (C.US)$
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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Valery S : Thks for ur detailed updates
SpyderCall OP Valery S : no problem. I like to do it. it keeps me on my toes and prepared for the markets. and I hope it helps makes people some money on this thing
warrior-sailormoon SpyderCall OP : Thank you.
I’m out of TSLA last Friday. Too dangerous to play TSLA as for now
toomanyscammers : yes, but has tesla already passed its exponential growth stage?
SpyderCall OP toomanyscammers : this is very possible. but on another note he could absolutely sell many many more cars. especially if he makes a cheaper Ev