What to make of the fact Tesla is losing steam? The market share will be threaten from this point as more EV's are making their way to the fray. This is the second hump on what looks like an M pattern. Is this the first sign of Tesla filling some lower gaps starting with the one below 156?
Bullish Case - This is the leading EV maker. With the combination of price drops and tax credits we are looking at the consolidation before a break to fill the gap above. Lets see if this support holds and with is market share it should be an easy task.
Bearish Case - Look at the combination of lower highs and lower lows. It is working on a channel to work it way to break out of the M pattern it is forming. If so, look for that measured move under 140. This is a tough ask, after the gap I can see the psychological number of $150. Either way the gap below will be filled.
Bullish Case - This is the leading EV maker. With the combination of price drops and tax credits we are looking at the consolidation before a break to fill the gap above. Lets see if this support holds and with is market share it should be an easy task.
Bearish Case - Look at the combination of lower highs and lower lows. It is working on a channel to work it way to break out of the M pattern it is forming. If so, look for that measured move under 140. This is a tough ask, after the gap I can see the psychological number of $150. Either way the gap below will be filled.
Sometime you have to take a step back to make a better step forward.
Click the website for the Cheat Code!!
Click the website for the Cheat Code!!
