Tesla Analysis – 19.Aug.2024
Tesla Analysis : By reviewing the #Tesla stock chart on the weekly (logarithmic) timeframe, we can see that the price started a significant decline from the $270 level, just as we anticipated, dropping by over 32% down to $180. At the time of this analysis, no one expected such a steep decline in Tesla’s stock, as most were predicting a rise above $300 or even $400. However, the price disregarded the majority’s opinion and followed its own course, resulting in this sharp drop. Currently, the price is around $216, and I expect an initial rise to $233. After that, we’ll need to watch how the price reacts to this critical supply zone. This analysis will be updated accordingly.
(This Post on TradingView)
Author : Arman Shaban
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