TSLA is nearing my downside target

This is a story of knowing when not to chase something.

It is a message about being careful amidst hype, cult and zealousness

It’s not necessarily something I was interested in shorting.

I find shorting difficult.

I have been calling the price of Tesla lower for a good year or so.

9 months ago, I wrote (in this note), “we’ll look for a visit to $650, then $567 while $519 would represent a good shake-out.”

That was the pricing of Tesla stock before the 3 for 1 stock split.In today’s after-market action, following its latest quarterly release sees TSLA shares trading at $208 (or $624 in pre-split prices)
The 200 week moving average which I continue to reference in stories I tell, sits at $157.That mean should rol up to the $161 region in the next few weeks.$161 is equal to $483.
Which meets and is a little lower than that pre-split target of $519.

8 months earlier, I wrote this note. My timing was off.

3 months ago, this was posted.

October 22, 2022

by Rob Zdravevski


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: