I like to use the 2 day time frame when looking at moving averages because they uniformly react to them much cleaner and more predictable then shorter/longer term time frames.
Not only is Elon under fire from wall street and investment groups like no other period in time, his own board of directors are trying to boot him out/he may want out himself (Hence the purchase of twitter, this was his way to exit in a none scarce way to the publics eye).
At the technical view point I am watching this orange 600 day moving average for a break below, the only other time this happened we had a fake break down and a massive pump up (circled in white).
The 55 & 200 day moving averages are THE most respected on this chart and which we have already been rejected by before the fall.
Conclusion: The 600 day MA is support (for now) and if we break it, watch for a bottom to form around our volume gaps.
Worst case scenario is Tesla gets crushed by interest rates and china competitor.
Best case scenario is Tesla cuts staffing, rates get cut and more money is printed with the china competitor slowing growth.
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Created bullish divergence, we may consolidate and then major move comes...
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Everyone pay attention to the channel that tesla is in and this channel only. IF THIS STOCK TANKS PRIOR TO EARNINGS IT IS A BUY!!!!
Very very important earnings for this stock as we get to see a clear picture of what the US consumers are thinking and doing.
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NGL tesla is cutting prices and I hope its to spark good sales.
I can see this thing tanking to the bottom of the blue channel.
Need a pullback to break 180 range question is how far of a pull back. Original descent of 211ish didn’t work the thought of 190 something didn’t work. So will it be minor pull back, try 211 ish or more.
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@ironmanschultz, Well, I agree but the farther we pull back from here the bigger the pump will be and Vice versa
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Made a push this week but failed to break above 180 and came back below 170, dip buyers helped close above 170. Bottom line is with 4q out we can conclude TSLA is by far the weakest link and this woe likely to continue into 1q/2q. People keep talking about how great the newest FSD is but it’s all pending govt approval which will take years if not longer. With car sale only real driver for profitability and growth, that segment is declining rapidly with 5-7% growth, meaning fwd pe should be in 40s and that’s being extra generous as growth was forecasted to be 30-40%. Which means price to be around 130ish. Technical tells me fib retracement of 78% possible short term at around 145.