Tesla may have grown in popularity over the past few years, but the share price
has been falling rapidly since November 2021.
It was only back in June 2019 that price was trading at $14 before shooting up
2846% to a high of $415 in November 2021.
That is some significant growth in a very short period of time. But as with anything
that goes up fast in the markets, it will eventually come back down and just as hard.
As we can see, this is what is currently happening with Tesla. Price has now
declined by 59% and counting. Last year’s low support has been broken,
and we could see further lows created.
Price may come down to find support at $150, and if that fails, then the
$100 round number could be the next stop.
What is clear about this chart is that Tesla is not an ideal long opportunity.
This is due to the fact that it is falling fast and hard and may continue
to do so for the foreseeable future.
As the S&P 500 is displaying signs of strength, we need to look at stocks
outperforming it and creating new all-time highs, which there are plenty of.
We will continue to cover these stocks in our analysis so stay tuned
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
has been falling rapidly since November 2021.
It was only back in June 2019 that price was trading at $14 before shooting up
2846% to a high of $415 in November 2021.
That is some significant growth in a very short period of time. But as with anything
that goes up fast in the markets, it will eventually come back down and just as hard.
As we can see, this is what is currently happening with Tesla. Price has now
declined by 59% and counting. Last year’s low support has been broken,
and we could see further lows created.
Price may come down to find support at $150, and if that fails, then the
$100 round number could be the next stop.
What is clear about this chart is that Tesla is not an ideal long opportunity.
This is due to the fact that it is falling fast and hard and may continue
to do so for the foreseeable future.
As the S&P 500 is displaying signs of strength, we need to look at stocks
outperforming it and creating new all-time highs, which there are plenty of.
We will continue to cover these stocks in our analysis so stay tuned
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
