TSLA
has reached the target of a bearish signal I detected in monthly scale recently. Daily trend is now reversing the recent downswing so reward to risk favors long exposure here. Sentiment has flipped to bearish, and I think this level where the stock sits now is a safe spot to enter longs once again.
Long term, the company is on a solid foothold and positioned to have some huge selling products and progress in other areas beyond car manufacturing which they already excelled at, and became top dog currently. This is yet to be priced in, when before
TSLA
was a struggling car company and not a tech company, in the eyes of Wall St portfolio managers, and a misinformation short and distort campaign organized by short sellers was in full effect, now it is only a tech company but not an 'AI' company... This reminds me of the setup in 2019, but not as dramatic as the company isn't at risk of bankruptcy like it once was. It's worth a shot to go long here, just in case this is a major bottom before a massive rally once again.
Best of luck!
Cheers,
Ivan Labrie.