Soo, everyone's favorite stock ( except short-sellers)... TESLA. The Automaker which managed to reach new highs during a pandemic.
I personally would not touch TSLA right now, the reason is:
RSI shows: TESLA is highly overbought on multiple timeframes, and opened with gap-up which might fill soon
And earnings report could easily move the stock in an unfavorable direction.
I also would not short it, because the run-up could easily continue.
Instead, I wait for a clear signal after the earnings.
The main targets are the following:
> If we fill the gap and support holds, then 1137.36 will be a good entry point.
> If the earnings will be not in favor, then we might test the first fib level(23.6%; 1013.47). This is the first strong support level.
> If the hype continues, then we will go to the fu@king Mars. In this case: no price target.
I personally would not touch TSLA right now, the reason is:
RSI shows: TESLA is highly overbought on multiple timeframes, and opened with gap-up which might fill soon
And earnings report could easily move the stock in an unfavorable direction.
I also would not short it, because the run-up could easily continue.
Instead, I wait for a clear signal after the earnings.
The main targets are the following:
> If we fill the gap and support holds, then 1137.36 will be a good entry point.
> If the earnings will be not in favor, then we might test the first fib level(23.6%; 1013.47). This is the first strong support level.
> If the hype continues, then we will go to the fu@king Mars. In this case: no price target.
