$Tesla Motors(TSLA)$  ‌Still holding on to your first love?

Firstly, I am a BIG FAN of ELON MUSK (like a lot of people) and I think he's a "once a lifetime" genius that we will ever see & I guess that is also 1 of the big reason that pushed Tesla to become a "super stock" during the covid era when money is "cheap" & retail investors are having a hell of a lifetime buying tech stocks! 

Tesla is a profitable company but it is not half as profitable as Apple, Microsoft or Google. Heck, it is not even more profitable than Meta! Yes it has fantastic self driving AI technology, sells solar panel and even carbon credits. But ultimately it is just a "car maker". 

Every car maker is coming into the EV market now and there will be only be more and more competition down the road. In terms of EV market, Tesla doesn't have any competitive advantage like Apple. I am kind of surprised why people would think that Tesla is going to "kill" all the other German, American, Japanese, Korean & Chinese car makers?? Tesla is NOT going to dominate the EV market no matter how cool Elon Musk is. Btw, Elon Musk is also too distracted with his other businesses, no?

Anyway, as a trader, let's just focus on the chart instead of the business. Trading has always been an emotional game. I can understand a lot of people see Tesla as their "first love". The one that they had fond memories of and always hope that they can get back together again. Those people who are still holding Tesla in their portfolio are praying everyday that Tesla will reach $1000 again, that as long as they don't give up, Tesla will fly to the moon again, maybe this time even fly to Mars. 

I hate to burst your dream, but look at the chart yourself. 50/100 EMA crossover, price trading below 200 EMA. Support line of $167.50 broken, RSI below 40. Even the down trend channel is broken. Which part of the chart looks bullish to you? Don't tell me you want to follow Warren Buffett: "Be fearful when everyone is greedy and be greedy when everyone is fearful?" Mind you, Warren Buffett doesn't own any Tesla stock. 

My conclusion is, Tesla is probably past it's prime and may never get back to the TOP of the game again like a certain footballer called Christano Ronaldo. As much as you miss your first love, it is probably wiser to wait and see instead of trying to catch the knife like Cathy Wood. (Don't forget it's not her money afterall)

With the Russia/Ukraine war still ongoing, inflation still strong, interest rate still high, Covid "just started" in China, I don't see a lot of positives for 2023. It is better to be defensive than to try to score a hatrick like Mbappe, but still lost the World Cup! My advice for 2023 is, don't worry about (FOMO) Fear Of Missing Out. Be patient, not losing is winning. The last one standing will be the winner. Cheers, Merry Christmas and Happy New Year!