Telsa: A Simple Trade Idea to Watch

Tesla's recent performance positions it as one of the worst stocks in the S&P 500 this year, which is surprised me. After being a winner time and time again, it has finally retraced quite a bit. I feel like it's been years since Tesla had this poor of a start, but also, for many who don't yet have a position, this is a great time to start thinking about a possible trade or entry.

While I have more work to do on its fundamentals, I see that the technicals reveal a potential turnaround with an upcoming support zone suggested by a gap fill. This trade is rather simple and all highlighted on the chart. This hint at a rebound offers an intriguing entry point for investors, suggesting that the current dip might be a strategic opportunity to buy before an anticipated recovery.

Despite its immediate struggles, Tesla's investment in AI, chip technology, and humanoids paints a bullish picture for its long-term trajectory. These aren't mere diversions but core to Tesla's forward-looking strategy, promising significant industry impact.

I sure find this price level interesting and it's moved to the top of my watchlist!