Hi,
The well-known, much-talked-about, much-asked-about TESLA is starting to reach an interesting price level for me. There have been a lot of questions about what I think of Tesla, when to buy, what to do, etc. - my answer has always been the same: "I don't know HOW and I don't know WHY it should fall, but I'm only interested in this stock when its price reaches around $500."
And here it is, approaching this area quite aggressively, the streets in Tesla's yard are already quite bloody. Too bad for those who went along with FOMO and didn't wait for a correction. Keep in mind - in trading and investing then patience is the key! Of course, this does not mean that Tesla will, firstly, get to that shown area and, secondly, this doesn't mean that it will go up there, but at least the analysis has been done and we can just wait for what the market has to offer for us.
Fundamental analysis is your job to do but I can give you technically an optimal area from where to buy it. The area is quite wide but I'll explain it later.
The criteria are:
1) 2020 resistance becomes support
2) The mid-round number will act as a support - $500
3) A tiny confirmation from the Fibonacci retracement level, 62% matching nicely with the other criteria
4) Weekly EMA50 adding strength to the shown area
5) 50% drop from all-time high
The green box, which marks the buying area, is quite wide. To give you a hint then long-term investors can add some positions after the price of Tesla has reached around $540. The shorter your investment period, the more precisely you have to buy the stock. Technically, the ideal price range will stay around $450-500 but be ready to grab it also a bit lower ;)
Stay healthy,
Vaido
The well-known, much-talked-about, much-asked-about TESLA is starting to reach an interesting price level for me. There have been a lot of questions about what I think of Tesla, when to buy, what to do, etc. - my answer has always been the same: "I don't know HOW and I don't know WHY it should fall, but I'm only interested in this stock when its price reaches around $500."
And here it is, approaching this area quite aggressively, the streets in Tesla's yard are already quite bloody. Too bad for those who went along with FOMO and didn't wait for a correction. Keep in mind - in trading and investing then patience is the key! Of course, this does not mean that Tesla will, firstly, get to that shown area and, secondly, this doesn't mean that it will go up there, but at least the analysis has been done and we can just wait for what the market has to offer for us.
Fundamental analysis is your job to do but I can give you technically an optimal area from where to buy it. The area is quite wide but I'll explain it later.
The criteria are:
1) 2020 resistance becomes support
2) The mid-round number will act as a support - $500
3) A tiny confirmation from the Fibonacci retracement level, 62% matching nicely with the other criteria
4) Weekly EMA50 adding strength to the shown area
5) 50% drop from all-time high
The green box, which marks the buying area, is quite wide. To give you a hint then long-term investors can add some positions after the price of Tesla has reached around $540. The shorter your investment period, the more precisely you have to buy the stock. Technically, the ideal price range will stay around $450-500 but be ready to grab it also a bit lower ;)
Stay healthy,
Vaido
