Beware the Tesla Bull Trap
Tesla jumped 4.85% on Monday's trading session on almost no news. Looking at the technical analysis of the price action, the stock has filled the gap down after earnings on Apr 20, 2023, where traders have bought into the stock and filled the gap.
Beware the bull trap
A bull trap happens when the market maker traps those who went long, it will make the price action look bullish and then the price will drop, trapping in the bulls. As TSLA approaches the 200 daily moving average, this has been a huge resistance zone in 2023. Also the long term trend shows lower highs and lower lows, and until the market changes its opinion of Tesla's earnings in 2023 and 2024, it will remain in a down trend and test the January 2023 low of $101.80 again. Likewise the Ichimoku Cloud shows a huge red cloud of resistance too!
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Remember that there are a number of risks that could derail Tesla's growth, such as increased competition, regulatory challenges.
Looks like the hedge trolls with never seen b4 handles have reversed. Expect full scale tesla bashing to commence soon. Meanwhile, i continue to increase short position above 180.
$特斯拉(TSLA)$ is a very volatile stock. The stock has been known to swing wildly in price, making it a risky investment for those who are not experienced traders.
Probably it goes under 180 and with the budget deal near 200, but not today. Dangerous market, I will get out around 200.
Tesla will be banned in China as revenge. Target $22.
To make Tesla stock rise, Space Karen has to appear with the gutter trash from FL.
Yes, Tesla stock is currently trading at a very high valuation.
Need to test 175 again then we go up 200