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trading
- Thread starter Boomer19
- Start date
Zhelko Dimic
Careful bull
I know nothing, but the fact that TSLA holds so well, while AMZN is cratering, makes me think that perhaps we're rounding the bottom.
I keep having a mental image of $180-$185 being an ambush, where everyone has cocked their weapons ready to fire. And it feels to me there is a lot of firepower being readying because everyone expects it to get there, and is avoiding buying above, except to nibble.
Again, I know nothing, but I don't think we breach $180 without some catastrophic news. Not bad, catastrophic. We've been having bad news for awhile, and stock doesn't care anymore.
I keep having a mental image of $180-$185 being an ambush, where everyone has cocked their weapons ready to fire. And it feels to me there is a lot of firepower being readying because everyone expects it to get there, and is avoiding buying above, except to nibble.
Again, I know nothing, but I don't think we breach $180 without some catastrophic news. Not bad, catastrophic. We've been having bad news for awhile, and stock doesn't care anymore.
Last edited:
Zhelko Dimic
Careful bull
Sealy
Member
I think about it this way: The 200 shares I bought are still 200 shares. I don't feel like selling anytime soon. Wait for the news about short term deliveries, but also orders in China, Australia, Japan. Wait until more and more governments and jurisdictions start banning gasoline and diesel vehicles. Wait until Tesla batteries with dry processing are lighter than anything out there. Just wait. You'll see. And my 200 shares will still be 200 shares.
Zhelko Dimic
Careful bull
I think the same way. I'm sorta happy that I have maneuvered myself into position where I could own 31% more TSLA shares on my largest account, should I choose to. In reality I own the same amount of shares, with now significant AMZN and small DIS position. I may, but most likely not go 100% TSLA
bdy0627
Active Member
This drop is now at 31.8% on 19 trading days. There have been 2 worse drops in history, 1 just barely, and the other by about 10%. We had a drop of 32.2% that bottomed in April 2018 at $244. The climb after that was 26.6%. The other one is the massive drop in Feb 2016 of 42% that bottomed at $141. After that drop, we climbed 69.5%. So, the smallest climb we have had from this big of a drop is 26.6%. We are also at a drop of 54.8% from ATH, somewhat worse than the drop in 2016 where we went down 51.5% from ATH. RSI is under 29 on the weekly chart and at 20.4 on the daily chart. Those were 29.3 and 19.8 at bottom on the drop in 2016. Money flow index was at 21.2 at the bottom in 2016. It's now at 17.8.
I know everyone now seems to think we will go down at least to $150 and possibly even $141. $150 would represent a drop of 41.9% and a drop of 61.9% from ATH. If it happens without a bounce first, the RSI and MFI will be incredibly low. At this point in the drop, we are already getting a lot of shorts chasing it likely near the lows. Any really good news could easily trigger a moderate squeeze, giving us a much-needed bounce of 25% plus most likely. What news? I don't know, maybe deliveries estimates for May. Alternatively, poor macros could trigger the further drop to $150 or even lower. Keep in mind SPY is now around the channel low. If it bounces, we may bounce as well. If it doesn't, there may be some significant further downside to SPY that would hit TSLA as well.
$180 level hanging on by a thread, and I still think macros aren’t done tanking this year. I didn’t bring up buying TSLA with my IRA with the significant other again yet. Still trying to be patient. Chart wise to me this really should be the bottom but $150 still has a claim to the throne as well. Luckily I’ve done well with my bond funds at least and is where most of my money is tied up.
i suppose the support levels of 178ish and then 150 remain
but what about resistance upward?
people are clamoring. i don’t think we’re out of woods yet. i’d like to see a few more days of this back to 235-245.
fed helped. but hopefully we don’t have trump come in and throw cold water on it.
Remains to be seen but I think there is a lot of freedom of movement between the 180 and 250 range with not much resistance or support to put up a fight between them.
anthonyj
Stonks
anthonyj
Stonks
Share price. It was getting a little ridiculous. Kind of like Apple when it was endlessly tanking last year
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