Michele Schneider | Apr 03, 2024 01:45AM ET
This morning, I made my debut on CNBC’s show Worldwide Exchange with Frank Holland.
Here are the notes I prepared.
At the start of 2024, the entire EV space already had some issues:
Since the stock dropped from $265 to the recent lows of $160, Tesla has struggled to regain upward momentum:
Looking at the Daily Chart, the last major swing low was at 152.37 made on April 27, 2023.
More recently, Tesla had a reversal bottom low at 160.76.
Typically, once a strong reversal bottom is made, that could be a bottom UNLESS that price is violated.
We see 180 pivotal and can attract buyers especially with the short float.
Over 180, we would think it looks good for an active investment-maybe a move to 215 area.
Should 160.76 fail then we have a $145-150 target in mind. That is the 80-month moving average or 6–7-year business cycle support.
However, we would want to see evidence of strength at that level since 100-110 is not out of the question.
I also appeared with Charles Payne on Making Money with Charles Payne-that clip is below.
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