- NO ANSWER
- REQUESTS $
- WHAT TO DO?
- DOES NOT OUTPUT
The well-known company (the first in the world) for the mass production of the best electric cars soared not so long ago to the psychological mark of 1000$ per 1 share, let's see what can happen next.
Many investors and speculators compare Tesla with Bitcoin, perhaps there is something in this, but for now let's not build fantasies and consider what the chart offers us at the moment.
By the way, just before such a grandiose pump, Elon Musk himself bought up the shares of his own company for a very impressive amount, approximately at a price of 350$. Apparently he knew something that there would be such a surge)) They wrote about it on Twitter ...
Tesla stock daily chart
At the moment (May 13, 2020) the price fluctuates at around 800$ per 1 share, most likely a triangle will form, and this figure breaks up after the fifth wave in an ascending (bullish market).
And when the triangle is completed (3 more waves of the triangle are left), then there will be an upward exit, apparently to conquer new heights, but this may not happen soon.
If, for example, we take the scenario that happened with bitcoin and it repeats with tesla, then an isosceles triangle may begin to form and there will be a breakdown of the lower level.
Now it all depends on the company itself, whether it will develop or not.
If you look from the “purely chart” side, then after such a strong surge, in order for the price to immediately go even higher, some global events are needed. Just like that, “on nothing”, the price will not be able to go even higher.
If this is just another “hype”, then the price will go down to the nearest strong support, and there will already be a rebound from it.
It might look something like this:
After the breakdown of the triangle (which will already be called the Terminal Impulse), the price will reach the nearest level, which is in the price area: 300-400$. After that, there will be a rebound to the breakdown level (retest) up to about 500$, and a round number will also play a role here.
Where can you earn?
If you are a long term investor, then you can buy shares when the price drops to about 470$ and if it goes even lower, then the next price line is about 350$.
It is unlikely that it will be able to fall below, unless, of course, it is pressed down, but this is not a cryptocurrency for you, where constant manipulations take place. This is still a real company with a history and a real physical product backed by people, etc.
It is also worth considering that other investors will buy back from strong levels, which will contribute to the price rebound.
If you are speculating, that is, 2 segments on which it will be possible to earn:
In any case, the price will pass these 2 segments with the development of any of the two described options. Even if the price goes up on the breakdown of the triangle or if it is a terminal impulse, it will still be bought back from a strong level in the price area of 300$ and the price will fly at least to the breakdown level.
It will be possible to earn money on these two indicated movements, get involved in trading! Trading is a goldmine!
Open an account with a broker, make a deposit and start trading!