TSLA - Expecting consolidation-downward price action before hitting the Upper Target on the Daily Chart to around $1627. After this, expect a massive sell off, which could wipe 60% of the valuation within weeks or months.
Trade closed: target reached:
1627 target was reached on Monday June 13, 2020 when TSLA hit and all time high of about 1795. By the next morning on July 14th, 2020, TSLA has traded down to about $1431. For a decline of about 20% since the peak.
It appears as though TSLA has completed a "Blow-Off-Top," and the anticipated direction in trend is most likely underway. A 60% drop in price would take TSLA to around $720, and we view this has highly probable, which could take weeks to achieve.
It appears as though TSLA has completed a "Blow-Off-Top," and the anticipated direction in trend is most likely underway. A 60% drop in price would take TSLA to around $720, and we view this has highly probable, which could take weeks to achieve.
Comment:
Everything seems on track and TSLA will likely continue its downward trend.