TSLA is a fundamentally strong stock. I may be mistaken but using my technical tools to analyze charts I've come to a conslusion of a strong support zone [143.6 ; 159] to which the price is passing by. To be clear: I have analyzed the chart yearly this year, have been trying to buy stocks from different levels but markets conditions are tight so I don't have open trades with TSLA currently, patiently waiting the price to hit 159 at least.Trade active
As mentioned above, I bought at 159 price. Though the price's reaction was weak I professionally executed following my trading rules.After the 2nd inflation slowdown I expect J.Powell's dovish accents during the speech tomorrow.
Note
Powell's speech was hawkish IMO.159 price didn't hold the price. Next zone of support is a set of values between 143.6 and 154.
PS1: we've seen a huge drop in TSLA's price this year. Naive to think such movements can be stopped by one week candle. Probably it is reasonbale to expect turbulence between 143 and 159.
PS2: According to SEC Musk sold next bunch of TSLA's shares to support TWTR by around 22mln shares or 3.58bln. Good is that is has already happened. But did he stopped do it at all? Overlay of him continuing selling and falling stock market indexes could lead TSLA price lower and lower.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.