Tesla: up 20% in one day - as usual

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. 

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                                 Remember you can trade stocks not only through Metatrader 5 but FBS Trader app!

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