Sometimes the closing prices and charts give you a CLEAR understanding of supply and demand especially when considering assets on a long term timeframe. I have been a TSLA fan for years, not going to lie. I still like the company, I still like the vision, I still like the CEO, but I do not like the chart. This is unfortunate because I want TSLA to survive because I like the idea of Luxury Electric Cars. But You can’t just hop on the ship here…
The Chart is showing a disaster of a breakdown here. It has been range bound for years and right now is not able to hold prior support. The cult has held it up as long as they can and the shorts are starting to tip the boat in their favor. 260 is a HUGE spot that has shown some support in the past years and resistance even further back. If 260 can be taken back it may turn the stock around, if not the shorts can press this into the 120s-140s.
You can’t argue with the price!
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