TSLA Expectation + Irrationality of the market example
-The current price could either break the 38.2% Fibonacci level and reach the 50% level (around the price 300) and reach the previous range.
-Or the stock could reach the 23.6% Fib level after testing the 38.2% level and reach the price of 400.
The most important line for the moment is the 38.2% Fibonacci level, It may be broken strongly. The yellow inclined line is showing that the market is bullish, however.
The price of TESLA's stock price was for a long time overvalued (this is a reason for the split of the price), here is a great example of the irrationality of the market, speculative bubbles made the tesla go to this high, not its real value.
the price has dropped by 30% and is about to reach the previous range (as highlighted in the chart).
-Or the stock could reach the 23.6% Fib level after testing the 38.2% level and reach the price of 400.
The most important line for the moment is the 38.2% Fibonacci level, It may be broken strongly. The yellow inclined line is showing that the market is bullish, however.
The price of TESLA's stock price was for a long time overvalued (this is a reason for the split of the price), here is a great example of the irrationality of the market, speculative bubbles made the tesla go to this high, not its real value.
the price has dropped by 30% and is about to reach the previous range (as highlighted in the chart).
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