The Long Investor

$TSLA TOP 20

Added 2024-10-13 18:47:33 +0000 UTC

$TSLA had everyone's attention this week and truthfully I liked the 10.10 day, I think there was a lot to take from it but the market and followers of $TSLA have become increasingly frustrated, probably as the market pushes higher and the other Mega Caps, while $TSLA is still down significantly from its ATH level

But the price action is still feeling the effects of its enormous run in 2021, where its fundamentals were far too high and retail lost the run of itself

Price action retested the wedge breakout level on Friday when the market opened and held perfectly, Bulls will like this but it is absolutely important that this level will hold now to save the Bull Case, otherwise the 200 Day MA will be tested next at $202 and if this level is not held, then the $165 level on the 0.618 Fib is next

This is not a buy for me in this position.

The lower high now and the ABC bounce from May have now shown that the bounce has so far been corrective, which is what we feared, the chart has not lied nor has it changed.