I know I have a lot of followers on here that hold
$TSLA, and after my post about EVs, everyone kept dunking. Thats ok. I care so very little about fundamentals. I use charts.
What I see on the charts is a bearish continuation on the weekly, and bullish continuation on the monthly. I've charted them both here for reference with Higher Highs and Lower Highs marked, and I've tried to be clear about when the weekly chart flipped bearish. I also exited my position there at $459 and posted the sell.
HTF takes precedence which means monthly - which is still in a bullish uptrend. 🐂
However, until the weekly and monthly match up, the displacement can not occur. That means, no massive green 'fuck you' candle ...yet 👀
When the weekly and monthly both turn bullish,
$TSLA will probably move straight to $1000.
Whatever causes the merge between the weekly and monthly will likely be correlated to
$SPCX in my opinion. Obvious one is the possible merger which many people are already discussing, but it could something entirely different.
Until then, it is technically still ranging between $220 and $450 and the trend isn't broken. We could drop to $220 and still be monthly uptrend.
If it does dump hard, it will be blamed on something. Whatever narrative it is, will be the opportunity. Be prepared because everyone will likely think you are brain dead for buying
$TSLA stock at that point.
For example: Some time ago, there was a massive campaign against
$TSLA regarding the racism/MAGA issues - this dumped the price below $200 which is where I bought. That became a +300% return play.
I am waiting to see if we return to the $200 range and then I will buy. If it starts to break above $500, I will look for long trades.
Either way, I will be fine, but holding something that can technically range with swings from 50-150% is a bit too volatile for a stock. That's why we have crypto.