Tesla (A strong Tug Of War)

View On Tesla (5 Oct 2020)

Telsa traders were in for a wild ride recently by swinging 5-10% per day basis.
It is a very clear sign of tug of ward going on between the Bull (the Buyers) and Bear (the sellers).


$450 region has become a very strong resistant (So do not be so overlly bullish just yet) and $410 is a strong support for now.

Meanwhile, it is advisable to be prudent and get ready take the riches from the spoil of war.

Let's see..




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Komentar:

Updated View On Tesla (22 Oct 2020)

Tesla failed to swing higher than the resistant level of $460 and now it is on the way to the support of $415.

At the same time, it is at the trend support line, that support line was tested 2 times before and get supported before.

Anyway, No hurry to buy in at this moment. You will need a oversold condition first. So, it "may" swing back to $400 or lower first.

Komentar:

Updated View On Tesla (26 Oct 2020)

1. The Absent of the stimulus talk is about to take a toll on this counter.

2. The Bulls seem tired after rising too fast too far the past months.

We may see some pull back moves in store.
If you want to buy in, do not be in the hurry at all.

Once the price has comfortably broke the support of $410, it can swing lower decisively. Just be careful.

Komentar:

Updated View On Tesla (29 Oct 2020)

Tesla has broken out from the Resistant zone ($415-$480) zone and it might bring the counter lower.
I expect $380 shall be a nice support.

Do not rush to Buy in for now.
The market is about to roast Retail Robinhood traders for lunch.



Let's see..