Tesla confirming support area, good for a long play
TSLA had a good long green candle today and has possibly confirmed 245$ area as new support as it has been a previous resistance level.
We are also approaching the 20 day EMA.
Daily RSI was at 22 and way oversold.
MACD looking for potential cross but to early to tell yet.
While Tesla is a very overvalued company with bad financials, they are all about the story and technological evolution of the car industry with Elon Musk in charge.
They are growing massively in revenue for each year that goes by and debt will not be a problem for them.
I think if Tesla does not go bankrupt it will follow the same story as Microsoft, Google, Facebook etc.
It's got the story, the tech with AI self-driving cars, the design with racing like looks on their cars, and most of all the crazy rocket-scientist genius of Elon Musk, a true visionary and a guy that works only for improving the world.
A risky stock but worthy play for long term growth in my opinion.
I think it's safe to buy at these levels.
This is not financial advice always DYOR
We are also approaching the 20 day EMA.
Daily RSI was at 22 and way oversold.
MACD looking for potential cross but to early to tell yet.
While Tesla is a very overvalued company with bad financials, they are all about the story and technological evolution of the car industry with Elon Musk in charge.
They are growing massively in revenue for each year that goes by and debt will not be a problem for them.
I think if Tesla does not go bankrupt it will follow the same story as Microsoft, Google, Facebook etc.
It's got the story, the tech with AI self-driving cars, the design with racing like looks on their cars, and most of all the crazy rocket-scientist genius of Elon Musk, a true visionary and a guy that works only for improving the world.
A risky stock but worthy play for long term growth in my opinion.
I think it's safe to buy at these levels.
This is not financial advice always DYOR
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