TSLA dropping *IF* market doesn't stay bullish
Updated
I found a trend line that TSLA has been interacting with for a few months. My chart is on a logarithmic scale and I think this reflects the "growth" rate of TSLA's stock. This is my first analysis, but basically if the market declines, I think it's likely TSLA will end up testing this trendline in the $500 area. If ppl panic in the market, I think it could lower to 400.
In the near term, I expect it to rise slightly after a "no surprises" earnings, but TSLA *is* a stretch purchase, hence the TSLA stretch. There will be order cancellations. The cancelling of orders will not affect their 500k delivery number (which I think they can still do), but it will make investors nervous.
...and if the recent Bull rally is starting to run out of steam... well...
I'm looking for a LONG entry point, but I don't think now is a "set-and-forget" moment. *If* the market continues to go up, then to state the obvious, it might be difficult to get a much lower price.
In the near term, I expect it to rise slightly after a "no surprises" earnings, but TSLA *is* a stretch purchase, hence the TSLA stretch. There will be order cancellations. The cancelling of orders will not affect their 500k delivery number (which I think they can still do), but it will make investors nervous.
...and if the recent Bull rally is starting to run out of steam... well...
I'm looking for a LONG entry point, but I don't think now is a "set-and-forget" moment. *If* the market continues to go up, then to state the obvious, it might be difficult to get a much lower price.
Comment
On average...it's been going under this trendline once every 2 months...wouldn't be surprising if it dipped again...in a month or two...Comment
sorry I meant once every 4 months...
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