TSLA: What is going to happen on Tuesday, March 11
Analysis:
Looking at today, Tesla dropped another 15.43% ($40.52) and 3.22% ($7.14) in aftermarket. It broke through the supporting line of $250, passed through the middle linear regression line (look back period of 160) and ended up below the bottom deviation of 2.
At this point, it’s sitting around $215, barely holding at this level. The next key support is around $210, lining up with the lower bound of the channel. If it doesn’t hold, we could see further downside movement within the trend and even a crash down to below $200.
Although RSI does point to oversold, TRAMA still indicates that it is on a strong downward trend. Any bounce might be short-lived. The only key resistance level above this current price is at $232, but with the current trend, it is super unlikely it would test this upper extreme for the following days.
Personal Opinion:
With the current situation regarding politics and tariff wars, we’re likely to see more volatility in Tesla’s price action. For instance, Reuters noted that Tesla’s shares dropped 15.4% in aftermarket trading after breaking through key support levels, signaling investor anxiety over heightened macro risks [1]. If tensions escalate and stricter tariffs are imposed, the stock could be pressured down even further. As tariff-related uncertainties continue, the chance of Tesla dropping below $200 are more and more likely [2].
That said, Tesla has historically rebounded faster than any other stock. Data from Nasdaq and related market analyses have shown that after steep declines, Tesla’s often comes back with a fast recovery. If any consolidation happens, a reversal might happen.
Personal Strategy:
My new long-term entry price would be at $232 with a strong break out and closes above the upper 2nd deviation line.
My new short-term long would be a retest at $210 and a take profit at $220
Disclaimer: This is my personal trading perspective and not formal investment advice. Always do your own research, double check my findings, and manage your risk accordingly.
Links to Quotations:
[1] AP News
[2] Investopedia
Looking at today, Tesla dropped another 15.43% ($40.52) and 3.22% ($7.14) in aftermarket. It broke through the supporting line of $250, passed through the middle linear regression line (look back period of 160) and ended up below the bottom deviation of 2.
At this point, it’s sitting around $215, barely holding at this level. The next key support is around $210, lining up with the lower bound of the channel. If it doesn’t hold, we could see further downside movement within the trend and even a crash down to below $200.
Although RSI does point to oversold, TRAMA still indicates that it is on a strong downward trend. Any bounce might be short-lived. The only key resistance level above this current price is at $232, but with the current trend, it is super unlikely it would test this upper extreme for the following days.
Personal Opinion:
With the current situation regarding politics and tariff wars, we’re likely to see more volatility in Tesla’s price action. For instance, Reuters noted that Tesla’s shares dropped 15.4% in aftermarket trading after breaking through key support levels, signaling investor anxiety over heightened macro risks [1]. If tensions escalate and stricter tariffs are imposed, the stock could be pressured down even further. As tariff-related uncertainties continue, the chance of Tesla dropping below $200 are more and more likely [2].
That said, Tesla has historically rebounded faster than any other stock. Data from Nasdaq and related market analyses have shown that after steep declines, Tesla’s often comes back with a fast recovery. If any consolidation happens, a reversal might happen.
Personal Strategy:
My new long-term entry price would be at $232 with a strong break out and closes above the upper 2nd deviation line.
My new short-term long would be a retest at $210 and a take profit at $220
Disclaimer: This is my personal trading perspective and not formal investment advice. Always do your own research, double check my findings, and manage your risk accordingly.
Links to Quotations:
[1] AP News
[2] Investopedia
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.