Id be very cautious on being long on Tesla right now. Theres better stocks out there right now to be long on.
Tesla has a large zig zag behind it, which has a high likelyhood of pushing prices a lot lower.
If we start failing now, and cant hold this current zone, and even breaking 150$ is the last straw, this stock is toast and can see a drop to 120-100 dollars.
One possibility that I have labeled here is a bounce up in the coming weeks now to trap long buyers before we get our move down to 120ish.
I would not be long here.
Tesla has a large zig zag behind it, which has a high likelyhood of pushing prices a lot lower.
If we start failing now, and cant hold this current zone, and even breaking 150$ is the last straw, this stock is toast and can see a drop to 120-100 dollars.
One possibility that I have labeled here is a bounce up in the coming weeks now to trap long buyers before we get our move down to 120ish.
I would not be long here.