Is the fall in Tesla's share price coming to an end? I recently published an idea predicting a fall in the share price to $215, which happened even faster than expected following the publication of more than disappointing results.
But now what?
Despite this bad news from a fundamental point of view, I remain in line with my initial analysis and believe that the correction is over.
We're coming up against a multitude of supports, namely the top of the ichimoku cloud, the 200-day, 50-week and 200-week moving averages, as well as the burgundy-red support line on the chart.
However, if we break this combination of supports, we'll probably go for the bottom of the ichimoku cloud, around $175. The death cross that has just appeared in the weekly also remains a danger.
In conclusion, although I'm expecting the price to bounce back, I currently prefer to stick to the expression "never catch a falling knife" and wait to see how the price moves at the start of the week before making my decision.
But now what?
Despite this bad news from a fundamental point of view, I remain in line with my initial analysis and believe that the correction is over.
We're coming up against a multitude of supports, namely the top of the ichimoku cloud, the 200-day, 50-week and 200-week moving averages, as well as the burgundy-red support line on the chart.
However, if we break this combination of supports, we'll probably go for the bottom of the ichimoku cloud, around $175. The death cross that has just appeared in the weekly also remains a danger.
In conclusion, although I'm expecting the price to bounce back, I currently prefer to stick to the expression "never catch a falling knife" and wait to see how the price moves at the start of the week before making my decision.
