In our last update of Tesla, we called for a dip to 126.60, which was seen and even broken as the low was seen at 108.24 close to our ideal target near 90.00. We do think the downside action is a bit overdone at the moment, which is also seen in the RSI making all-time lows. This could mean a period of sideway consolidation before renewed downside pressure towards the 90 target. That said, this is not the time to try and catch a falling knife, and the risk that Tesla will continue trading lower is too big as a break below 90.00 would call for a move closer to 63.00.
Relevance up to 07:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
