The Long Investor

$TSLA TOP 20

Added 2024-03-17 15:43:58 +0000 UTC

$TSLA remains one of the worst performing stocks in the S&P 500 for this year and its a reflection of the EV sector as a whole....there are concerns that people are not as convinced about EV's as they were before but I believe that interest rates have played a big part on people's spending, they are simply too high right now for people to change their cars as often.

When interest rates start coming down, the EV sector will need to respond positively.

I have two EV's myself so I have bought into the sector in more ways than others and believe it is the future.

Back to the chart, $152 - $144 remains the range for me for the bulls to step in, this is between the previous low and the 0.78 Fib at $144, if the Bulls are going to come in anywhere, this the range I believe.

Failing to hold $144 and it is possible that a retest of the $113 low can happen or possibly lower.