trade_like_rich

TSLA finding support in a Fibonacci retracement zone

NASDAQ:TSLA   TESLA INC
I didn't expect the price to decelerate so quickly into this zone but it has, lets hope that it respects this zone and then corrects in the typical A B C fashion.

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if the the price break this are can it go down to 400$ ??
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trade_like_rich aymenkarfai90
@aymenkarfai90, Great question. Although I don't have a crystal ball but from looking at previous price action there are two key support zones below the area that I have highlighted above for me and in my humble opinion. The 500 level which coincides with the 200 MA on the daily (which funnily enough todays price action almost touched it but then pushed back into the fib zone) and then the 405 down to the 350 area.
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trade_like_rich trade_like_rich
I'll also add that I don't expect it to go down to that level for some time and may never hit that area but it could, anything can happen in this game. If you're investing into TSLA then you'll be fine in the long term (5-10 years plus). If you're day trading it with leverage then be very careful as it seems very volatile at the minute.
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