I was expecting another type of message from you (more like, how long will you hold?), but you're more multifaceted than expected . Tesla's new support is difficult to evaluate because it started its bull run in 2019. Looking at the chart, I put it at 130 and the next one down at 90.
I will clarify that despite the present drop far lower than many peoples expectations, I really don't see TSLA drop below 130. Tesla today is nowhere close to what it was in 2020. I believe Musk has done much damage to the brand and stock value with his purchase of Twitter and his associated antics, but the business results are there.
Do you believe you can separate the two? If Musk stepped away from Tesla today, the stock would plunge today. It is a cult stock. TSLA, like bitcoin, was a tremendously successful pump and dump. Soon TSLA and many of the terrible companies that rode its covid coattails, e.g. PLUG will soon return to pennystockdom. No telling when a short squeeze rally may materialize, but I believe that TSLA is an incredible short sale candidate, and it will be trading close to $5/share at some point in 2023-24. As for Musk, he ought to worry more about his own health. The man is built like a deep breath. His torso is obviously filled to overflowing with dangerous visceral fat. Not sure which lasts longer at this point, a head of iceberg lettuce or Elon Musk. TSLA stock will outlive them both, though not necessarily by much. If there is value to Tesla it will eventually be owned by a GM or a Ford and just be one of their in-house brands, like Lincoln or Buick and GMC.
I've kind of given up on discussing exit strategies with long term investors. For the most part they don't have one. I looked at at those areas but they didn't trade there for very long and they didn't trade much volume. More interesting is the gap that didn't fill at the end of June 2020.($80 range) And gaps always fill except when they don't!
Hot DAYUM that is a bearish view on a company if I ever saw one! You sure you came to that conclusion with discerning FA/TA of the company and the stock's price action, or are you just feeling bitter about the upcoming LAR/KCC matchup tomorrow, knowing full-well that the Rams are DOOMED, and taking it out on Tesla stock?
$7500 discount on on model 3's and Y's. It appears Lone Skum's behavior on Twitter has damaged the brand. Ram's Fan may be right regarding the Doom. Thoughts and Prayers. If ya like that put, you're probably taking the under on the Saints/Browns game of 32.
And that all comes out of Tesla's much vaunted "highest margins in the industry." That is, earnings forecast all wrong now. Any analyst who is honest needs to reevaluate his or her Q4 2022 and Q1 2023 forecast.