I don't believe in technicals and unfortunately I don't believe with TSLA stock there are enough TSLA traders/investors who believe-and-trade on technicals to make it have a 'technicals self-fullfilling prophecy effect' enough with a stock like TSLA. To me technicals can be used to help tell a story of what's happened, but i don't think they can be used to predict what will happen in the immediate, near, or distant future.If you believe in technicals, I believe we are officially in oversold territory based on every SMA possible. $240 is the spot. It's also an Options expiration date.
I do believe sentiment on the stock can be used to help predict the probability of where the stock will go...based on the sentiment of this board, it is not nearly as high as it was going into the ER but there is still some positive sentiment/hopes on the stock about to rebound. Unfortunately, until just about everyone commenting on this board starts saying they think the stock was way too high where it was and is going down another 20-50% then I don't think our momentum reverses. This is just how mass market psychology seems to work.
Given my thoughts above, I am a long term stocks/LEAPs holder and do not take any action either way on where "i think" the short term price is heading. I've experienced enough to know that even trading on my best guess (like above) of where the short term TSLA price is going is really just gambling. I prefer to do that at the casinos with much smaller pockets of money than my brokerage account.