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Tesla: up 20% in one day - as usual
What?
After enjoying the highs of $900 just a couple of months ago, Tesla stock lost more than 30% of the value. A few days ago, it plunged to $550. However, on Tuesday, it gained back almost 20% rising to $670. That's why we like Tesla, don't we? Double-digit growth in one day after a two-month depression.
Why?
No direct factors are mentioned in the review. A "buy" recommendation from one of the renowned stock observers (Pierre Ferragu), crypto rally, tech sector bullish bounces, and probably other factors unknown to us - all contributed to this spectacular rise.
Action plan
- Watch how the stock price behaves as it comes to $700. There is a possibility that it bounces downwards from $700-720 to 200-MA.
- Wait for a local correction using the signs on the lower timeframes, buy, and aim at a mid-term target of $800 and above.
Remember you can trade stocks not only through Metatrader 5 but FBS Trader app!
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