Tesla has taken a heavy hit in the past weeks and breaking 200 seems to be sign of major weakness. But Tesla is an interesting stock that is driven not just by fundamentals but also a fanatical band of retail investors who swear by the company and its often malign talismanic figure head Elon Musk.
With the launch of the cybertruck due, the fanboys will get excited by the hype and the discounted stock prices which may drive a short squeeze, given the heavy shorting TSLA is experiencing. All it needs is a spark at the moment.
I am not sure if it will trigger just below 200, but once we near 185 or 190, i anticipate a wave of buyers coming in. I lean towards buying small quantities at this juncture and sizing up when the reversal happens.
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