Hello fellow traders and investors, here's an update on the previous TESLA trade idea.
TSLA has recently pulled back to the trendline, previously TSLA tends to make a reversal whenever it approaches the trendline. If TSLA makes a full recovery it offers a little bit over a 60% ROI.
Technicals:
The Macd indicates that TSLA is oversold
The Macd indicates that TSLA is still in a downtrend
The Ema's indicate that TSLA is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
If you are an investor and interested in buying TESLA then this could be a good opportunity to get in at a lower price however TESLA is wildly overvalued and at a P/E of 905. If you are planning on taking a shorter-term trade then I recommend selling at the previous high.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like and follow, Thanks.
TSLA has recently pulled back to the trendline, previously TSLA tends to make a reversal whenever it approaches the trendline. If TSLA makes a full recovery it offers a little bit over a 60% ROI.
Technicals:
The Macd indicates that TSLA is oversold
The Macd indicates that TSLA is still in a downtrend
The Ema's indicate that TSLA is still in a downtrend
When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When To Sell:
If you are an investor and interested in buying TESLA then this could be a good opportunity to get in at a lower price however TESLA is wildly overvalued and at a P/E of 905. If you are planning on taking a shorter-term trade then I recommend selling at the previous high.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like and follow, Thanks.