TSLA - Catching the bottom

Jan 20

I admit that TSLA is not an easy stock to trade, and I have been wrong many times. However, I would like to share my ideas for TSLA in the coming weeks. I plan to go long around 195-200 with a target of 250-300 and a hard stop below the October low. If it breaks that low, it's very likely we'll see 160 next. Therefore, I believe TSLA could offer a good risk-reward ratio here for a long position around the 200 level.

Jan 27

Note

Okay, so the idea didn't work. Tesla broke its support and closed below 190 on the weekly chart, indicating that the sell-off is not yet finished in the medium term. The daily chart is extremely oversold, suggesting the possibility of sideways movement and a dead cat bounce to the 190-195 area before further decline. will be watching the levels of 100-160 as strong supports for going long. Since the range is quite wide, I will also be monitoring short-term timeframes for reversal signals.

Jan 31

Note

Update: Tesla (TSLA) retested the 195 level as expected and has been rejected thus far. I maintain my bearish bias for TSLA, anticipating that it should follow the overall market weakness. A break above the 220 level would signal a potential bottom. Otherwise, I continue to expect lower levels for a long-term position