Tesla is still levitating far above the monthly 21-period ema, a level that stocks tend to oscillate around.
The current dip has it sitting on the 9-period ema.
Long-term monthly trend lines on monthly candles show that there is a lot of room to the downside of the ascending wedge the stock is in, although a $2000+ price target isn't unwarranted.
Just some perspective. I have no position in the stock. I'd be an aggressive buyer in the $140s and then again in the $40s ;-)
Note that this is a log chart.
The current dip has it sitting on the 9-period ema.
Long-term monthly trend lines on monthly candles show that there is a lot of room to the downside of the ascending wedge the stock is in, although a $2000+ price target isn't unwarranted.
Just some perspective. I have no position in the stock. I'd be an aggressive buyer in the $140s and then again in the $40s ;-)
Note that this is a log chart.