It's difficult to say which way the share prices of the EV giant will be heading in the short or long term. Volatility is insane, trading it is difficult, and the short term trend is down. Additionally, TSLA is below it's 200 day EMA which is a potential indicator for falling prices.
But this is TSLA. And TSLA doesn't like to lose value.
A pitchfork anchored onto recent price action shows prices smashing into the centerline, being stopped cold there. We'll have to wait to be certain, but that typically is a sign that if prices fail to break the centerline then they are likely to test the bottom of the array. If that were the case then it would go without dispute that the EV giant and retail favorite is potentially in a for a bearish chart for the foreseeable future.
I day trade the TSLA chart almost exclusively and am looking for sell opportunities in order to buy puts to flip for the premium increase as price drops. This has been reliable, for the most part. TSLA is in a dangerous spot for bears though and there was a lot of demand in this price range in the not so distant past.
Are the bulls still lurking near these prices, ready to gobble up cheap shares and truly buy the dip?
Or will another support level fall?
Don't predict!
Good luck and God Bless!
But this is TSLA. And TSLA doesn't like to lose value.
A pitchfork anchored onto recent price action shows prices smashing into the centerline, being stopped cold there. We'll have to wait to be certain, but that typically is a sign that if prices fail to break the centerline then they are likely to test the bottom of the array. If that were the case then it would go without dispute that the EV giant and retail favorite is potentially in a for a bearish chart for the foreseeable future.
I day trade the TSLA chart almost exclusively and am looking for sell opportunities in order to buy puts to flip for the premium increase as price drops. This has been reliable, for the most part. TSLA is in a dangerous spot for bears though and there was a lot of demand in this price range in the not so distant past.
Are the bulls still lurking near these prices, ready to gobble up cheap shares and truly buy the dip?
Or will another support level fall?
Don't predict!
Good luck and God Bless!