With the increased coverage of TSLA in the media, I decided to look into the chart. Even though TSLA had already fallen quite a lot, my analysis told me that it still has a bit more to go, with a target of 232.30 based on Fibonacci extension level. However, note that it may retrace a bit first for a 4th wave before a final leg down to the target.
However, note that TSLA is a victim of a broader market sell-off as can be seen from my earlier analysis of S&P and FAANG stocks.
However, note that TSLA is a victim of a broader market sell-off as can be seen from my earlier analysis of S&P and FAANG stocks.
Order cancelled:
Last Thursday's move up has completed a candlestick reversal. I will have to take it that TSLA is no longer a short but a long. On risk-management perspective, it is now more prudent to long TSLA. Stop below the latest low.
