I admit that TSLA is not an easy stock to trade, and I have been wrong many times. However, I would like to share my ideas for TSLA in the coming weeks. I plan to go long around 195-200 with a target of 250-300 and a hard stop below the October low. If it breaks that low, it's very likely we'll see 160 next. Therefore, I believe TSLA could offer a good risk-reward ratio here for a long position around the 200 level.
Comment:
Okay, so the idea didn't work. Tesla broke its support and closed below 190 on the weekly chart, indicating that the sell-off is not yet finished in the medium term. The daily chart is extremely oversold, suggesting the possibility of sideways movement and a dead cat bounce to the 190-195 area before further decline. will be watching the levels of 100-160 as strong supports for going long. Since the range is quite wide, I will also be monitoring short-term timeframes for reversal signals.
Comment:
Update: Tesla (TSLA) retested the 195 level as expected and has been rejected thus far. I maintain my bearish bias for TSLA, anticipating that it should follow the overall market weakness. A break above the 220 level would signal a potential bottom. Otherwise, I continue to expect lower levels for a long-term position