TSLA recently came off a low o

2023-09-02

TSLA recently came off a low of $212 and is now up $240. Is there a chance for another drop? Nobody knows. Looking at the technicals, it seems like TSLA has still some ways to run higher in the short term. The possible catalyst down is the FED and the possible upside catalyst as I've maintained in the past is the announcement of a refresh model lineup of the Model 3 and Y. This catalyst will likely boost the enthusiasm of the investors and its price to $300 the most recent resistance. If the FED pauses longer or starts reducing the interest rates, due to the expected slowdown or recession, then this resistance will more easily break before the next medium term resistance of $400. Investors demonstrate their conviction be known through their actions.

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