Marked out some key support lines I'm watching and a possibility of a H&S pattern if this plays out. In my opinion, TSLA won't break down from the H&S pattern if it does appear later in the year. But, it is a risk to be aware of.
I will re-visit the chart and update towards June / July based on how this plays out.
Good luck!
- Provided the broader economy does not pull the market down, I believe TSLA will cross $1000 by the end of 2021. But there will be buying opportunities throughout that journey
- If we re-test the $890 mark by June, I expect some downward pressure on TSLA towards July before earnings, based on cycle analysis.
- If you are bullish on TSLA it's a great time to start averaging in if you don't have it in your portfolio. Once TSLA breaks the current $715 resistance, this point could act as a strong support (thus, hopefully invalidating a H&S). The wedge is filling with higher lows, don't sleep on it.
I will re-visit the chart and update towards June / July based on how this plays out.
Good luck!
