GreenBoxTrading

Tesla bounce incoming?

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NASDAQ:TSLA   Tesla
Tesla lost a pretty significant monthly support level (dotted line) of 126.37 last week. Not gonna lie, it was a bloodbath and the chart structure is broken, for now. Im not sure if its my overall bullish outlook on Tesla (I love the car) or wishful thinking, but I see the recent selling pressure as being more circumstantial;eg, tax loss selling, Elon selling, Elon's attention to twitter, peak fear in overall market etc, but I think a sizeable bounce is long over due. But first we need a recapture of some critical support levels and I want to see that come in with good volume before the end of December. The last week of the year we often get hedge funds shopping for bargains and hopefully Tesla will be on the list. Cheers everyone.

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