As we can see on multiple daily indicators, from lower highs on the RSI to a strengthening stochastic RSI. Tesla Stock is proving to be very strong here
However, I've decided to outline my bull and bear case short term for earnings week
GOOD NEWS: Expect an instant 8% jump to 314, a level not seen since September 2022!
There will be major resistance at this level so some pullbacks may be likely if we clear 314, but that essentially puts ATH in textbooks potentially by end of year
BAD NEWS: Expect an instant drop of 10%, possibly back down to 260. Maybe lower if Wall Street puts massive selling pressure on the stock, however with a golden cross now playing out in our favor... I don't think Tesla will go further down than 260, but you mfn longs better be buying if we do!
I know my dry powder is ready for either scenario. I'm here for 40 years, not 40 weeks...
However, I've decided to outline my bull and bear case short term for earnings week
GOOD NEWS: Expect an instant 8% jump to 314, a level not seen since September 2022!
There will be major resistance at this level so some pullbacks may be likely if we clear 314, but that essentially puts ATH in textbooks potentially by end of year
BAD NEWS: Expect an instant drop of 10%, possibly back down to 260. Maybe lower if Wall Street puts massive selling pressure on the stock, however with a golden cross now playing out in our favor... I don't think Tesla will go further down than 260, but you mfn longs better be buying if we do!
I know my dry powder is ready for either scenario. I'm here for 40 years, not 40 weeks...