The Long Investor

$TSLA TOP 20

Added 2024-04-14 21:26:05 +0000 UTC

$TSLA made headlines last week when they announced plans to launch their Robotaxis in August and many were expecting a big week for $TSLA but the market had other ideas.

Dan Ives from Wedbush, who has historically been a strong supporter of $TSLA up until this year has attacked $TSLA for this decision and said they should focus on upgrading their current fleet instead.

$TSLA's share price finished flat for the week which was not a bad sign considering that week was bloody.

Price action is still holding on the outside of the wedge too.

We can also see that the price is above the 0.618 Fib at $165, which is the large Fib level taken from the primary impulse wave 1 - 5.

So this is actually a bullish set up if the level can hold and a bullish falling wedge.

BUT the sector needs to make a turn around and $TSLA have already said that they expect sales to be weaker this year.....which doesn't bode well for earnings due out on the 23rd of April, guidance will be key here.

Right now, I would not be rushing in here until I see more support.