Tesla - Bearish Trend Continues

17 ago 2023

The chart is clearly showing that Tesla remains caught in a bearish trend that appears to be strengthening rather than letting up. Both The TSI and MFI show the Bearish Divergence and The Keltner Channel has just signaled a Bearish Cross to confirm with the MA Bearish Cross from 3 week back. TSLA is continuing to trend below the 7 Day EMA and broke through the 100 Day EMA but is currently Testing Support at the 200 Day EMA which coincides with the 50% Fibonacci Retracement off their recent High. Given the load of Bearish Indicators I believe that a further drop to the .618 Fibonacci level of $208.49 is very real and for myself is a New BUY-IN Target but not before I see a Trend Reversal of several Indicators to confirm, otherwise a very bottom low is around $200.00 - $202.00. Either way these lows provide Excellent opportunities for Long Term Gains from one of the most Dynamic Companies around as we know it will eventually move to retest this summer's high around $300.00 providing potential gains between 40-50%.