TSLA has cooled off slightly coming out of the weekend.
From a technical position, this makes sense and was arguably needed. RSI was hot and the price action was reaching the upper bound of the trend channel. This pull back has returned price to the middle of the channel, and also set up a hidden bullish divergence with the RSI. Volume also slightly dropped.
For a fundamental shift, there is some argument to be made regarding the impacts of the Qualcomm case that the FTC lost; however any impacts are likely going to be seen across the whole automotive sector as cars increasingly become more intelligent and connected. I don't think it makes sense that this external factor would result in a value depreciation.
The 5-for-1 split is now only a few days away, when the price becomes more accessible, there is a real possibility that a new flood of anxious retail buyers jump in. Can Elon pull off a $420 2.0...
From a technical position, this makes sense and was arguably needed. RSI was hot and the price action was reaching the upper bound of the trend channel. This pull back has returned price to the middle of the channel, and also set up a hidden bullish divergence with the RSI. Volume also slightly dropped.
For a fundamental shift, there is some argument to be made regarding the impacts of the Qualcomm case that the FTC lost; however any impacts are likely going to be seen across the whole automotive sector as cars increasingly become more intelligent and connected. I don't think it makes sense that this external factor would result in a value depreciation.
The 5-for-1 split is now only a few days away, when the price becomes more accessible, there is a real possibility that a new flood of anxious retail buyers jump in. Can Elon pull off a $420 2.0...
