In several charts, you could make the case Tesla is going to drop further. However, I think this is a long anywhere in the green box. We may dip briefly below the 0.236 fib level then pop back above. We haven’t dropped more than 10% below the daily 50 MA since everything dropped last March. We are almost there now. If you are not already in, anything between $710 and $667 would be a buy to me.
On the Fibzia daily, you can see anytime we have dropped in the lower lower fib level in green, it has been a great buy opportunity after March 2020. Dropping just a little bit more in the next two days would put it into this green fib area.