When is Tesla's reversal?
Recently, the overall market, including Tesla shares, has declined due to rising interest rates. I myself have the biggest position in individual stocks, and Tesla stock is a stock I have a deep fondness for. When buying more, timing is measured by referring to trend lines, RSI, and option skew. This time, we'll explore the timing of the reversal with these indicators.
The trend line of the upper resistance line has been shown as an orange line since 2021, and it is expected that it will rebound around $200 in the case of cash register conversion. Also, the RSI is currently 32, and since it was RSI 30 or less in 2022/12, when the 3 most recent low was recorded, it can be said that if it falls below 30, it has dropped too much in the short term and is at a cheap level.
Also, the Tesla Volatility Skew in the options market is still leaning towards Bullish, and compared to past reversals, it is not strange to make further adjustments from the option market perspective.
From the above, I think it's enough time to buy even at $220 as a long-term investment for Tesla, but let's keep in mind that it will fall further and reach around $200.
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