TeslaShort
TSLA Bearish Pennant
https://www.tradingview.com/x/DjxdO6Dy
TSLA
I'm torn on Tesla (TSLA). While I believe Elon Musk is a visionary leader, the stock's short-term outlook appears challenging. Increased pressure from Chinese manufacturers like BYD and broader macroeconomic headwinds make a bullish picture difficult.
Tesla is more than just an automaker, with tailwinds from its energy storage, self-driving, and robotics divisions. However, these aren't likely to materialize in the near term.
Recent Developments:
Bullish Case: TSLA recently broke above a downward trend line and is finding support on the 100-DMA. If this holds, we could see higher highs compared to the most recent run-up.
Bearish Case: A break below the bearish pennant while below the 200-DMA could target the previous low this year. While there's a chance of a buying spree at that point, a continued decline is also possible.
TSLA I'm torn on Tesla (TSLA). While I believe Elon Musk is a visionary leader, the stock's short-term outlook appears challenging. Increased pressure from Chinese manufacturers like BYD and broader macroeconomic headwinds make a bullish picture difficult.
Tesla is more than just an automaker, with tailwinds from its energy storage, self-driving, and robotics divisions. However, these aren't likely to materialize in the near term.
Recent Developments:
- Broke below 200-day moving average (DMA).
- Retested and failed to break above the 200-DMA multiple times.
- Formed a bearish pennant pattern between the 200-DMA and 100-DMA.
Bullish Case: TSLA recently broke above a downward trend line and is finding support on the 100-DMA. If this holds, we could see higher highs compared to the most recent run-up.
Bearish Case: A break below the bearish pennant while below the 200-DMA could target the previous low this year. While there's a chance of a buying spree at that point, a continued decline is also possible.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.