It's Saturday and another Technical Analysis for you all because I really dislike seing baseless comments 😎
Tsla is a highly volatile stock with both supporters and challengers, constantly battling out to see who would be right about this stock. I would advise new investors/traders to stay out of this stock and look for safer stocks to safekeep your capital.
But right now let's dive into TSLA technicals. The release of cybertruck had mixed reactions amongst people causing the stock to be haywired, going up and down the past few days. However, strong support is clearly present when it again bounch off the EMA20 (Around $233-$234) And went up futher for the day. Likely to see Tsla retesting $242 region (another $3-4USD to go) and go sideways from there. Tsla is still making higher highs and higher lows since 1st November and it is unlikely to see tsla going to $200.
Overall US market is going strong and likely TSLA will receive some spillover good effect. Concluding on this, TSLA still has room to go higher but start taking profits around 242-243 region to play it safe.
Finally, I am just another retail investor and may wrong. This is not a financial advice but my personal analysis that I'm sharing with you all. DYODD before buying any stocks and do not follow blindly.
Huat big big all. Have a good weekend 🍀
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