The Long Investor

$TSLA TOP 20

Added 2024-05-19 18:45:20 +0000 UTC

$TSLA has continued to pull back since its Earnings bounce has been negotiating with the 0.5 Fib at $168 for support and has so far found support on this level

Price is also back above its 50 Day MA too.

$TSLA does not show the same amount of strength as their other Mega Caps right now and even $AAPL, which it was following in its downtrend has been able to find a strong relief bounce....brought on by a large share buy back.

$TSLA has not used this tactic yet or bought back shares or issued a dividend, nor has $AMZN, so they still expect to focus on growth, which is a good sign in my opinion.

So if $TSLA continues to find support here, there is certainly a bounce possible next to the 200 Day MA at $215 and even further to the wedge break out level, which will be the big test for bulls to flip this to support.

Bulls who are a big fan of $TSLA, I would not disagree with you building a position at the moment but you need to be open to the possibility that Wave C is still not complete yet in the Buy Zone.