Back in 2020, Tesla dropped 64% and touched the 200 DMA.
What's interesting is if you take the high of Tesla and draw it down to the 200 DMA, you get around 60%.
Macro conditions will likely pull Tesla down further to 220's and may consolidate and bottom there OR continue further down until it touches the 200 DMA around 170.
Both are buy areas for me.
I'm short for the next 2-3 months unless the Fed changes course.
What's interesting is if you take the high of Tesla and draw it down to the 200 DMA, you get around 60%.
Macro conditions will likely pull Tesla down further to 220's and may consolidate and bottom there OR continue further down until it touches the 200 DMA around 170.
Both are buy areas for me.
I'm short for the next 2-3 months unless the Fed changes course.