Why is Tesla stock dropping during the Coronavirus outbreak? Where will it go from here? Will its price recover once we’re done with COVID-19 pandemic, or will it go back to a range as it did in the past 5 years?
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Tesla Stock Fundamentals
Tesla is the leading autonomous vehicle player… My husband and I have been big fans and have gone through almost all Tesla models including the Model S, the Model X, and have even got a little Baby Tesla car for our 2-year-old daughter…
But my Tesla stock investing approach has not reflected my enthusiasm for Tesla as a company in the past 5 years. Not that I don’t believe in the Tesla stock as a long-term hold, but that my system has shown me over and over again about how Wall Street views are on a medium-term.
Me and my Premium Investors have gone in and out of TSLA multiple times, buying low and selling high and doing it over again. This has made us thousands of dollars in profit, more than we could have made just by buying and holding the Tesla stock Will Tesla reach global mass adoption? I think so… Will it be 2020? I’m doubtful.
In today’s video, I’ll use my Ichimoku strategy and Fibonacci system to analyze the Tesla stock price on a medium and long-term basis.
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Tesla Stock Technical Analysis Before the Surge
From 2014 to 2019, for 5 whole years, Tesla stock created multiple opportunities for me and for my PIG members who had medium to high-risk tolerance, to get in and out, buy cheap, sell high, buy again low, sell again at a high price, over and over and over again, using Ichimoku’s second and third signals, making a TON of profit in a shorter amount of time than just holding on to a growth stock.
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And if wasn’t for my system, I would not have been able to identify these buy and sell prices THIS perfectly, and we would have left a ton of money on the table investing in Tesla if we were just raving fans who wanted to hold on to the Tesla stock until it finally starts to grow. During those 5 years, it took for TSLA to finally break out of the consolidation, we made 3,000% combined profit, while long-term holders were just disappointed the stock isn’t growing.
Tesla Stock (TSLA) Analysis 2020
The recent surge in Tesla stock price at the end of 2019 was more like a bubble. It reminded me of the Bitcoin bubble in 2017.
People had heard of Tesla but no one had it in their portfolio. Then suddenly it was all over the news and everyone wanted it.
This led to a bubble that was bound to burst, regardless of the Coronavirus hit. The novel virus simply speeded things up.
Now, where do we go from here? As I explain in this video, TSLA price has a tendency to start a new range after reaching new all-time highs.
Once Wall Street is done with its panic coronavirus selloff, the Tesla stock could find itself a brand new range. This new range will likely have a higher resistance and support level than the previous one if history is bound to repeat itself.
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