TSLA Trading

I get the point why TSLA became bullish in the past few days. RSI reset and people's expectation on AI and FSD technology. However, Tesla also needs to convince investors with growing revenue and earnings.

With its sales tanking globally and its brand name becoming trashy due to Elon's strong far-right political position, I really don't see any upside for this stock in the next few months. I believe its uptrend is temporary, which was mainly caused by the need of RSI reset. Its long term potential is too far to see. I strongly doubt Robotaxi will be successful at this time, when FSD technology is far from being safe and reliable. Many Tesla car crashes have been reported that were caused by FSD.

Check out the four lower highs it has made since December. And two lower lows that formed on January 2 and February 12. I think these LHs and LLs have confirmed the midterm trend of this stock. I highly doubt the current uptrend will make a HH. In other words, I doubt it will go above 420. I believe it will make another LL in March, around 275, before its next disappointing earnings report. With the current uptrend, 390 is at an area of confluence and a good LH to 420.

Thanks for reading and I would love to hear your feedback.


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