Tesla Keeps Falling: Watch These Targets
InTheMoneyStocks.com | Sep 04, 2018 04:29PM ET
Elon Musk has caused an epic shift in investor and analysts' focus away from the genius of Tesla products to a man filled with ego. That's not good. Investors have seen Tesla (NASDAQ:TSLA) fall sharply from a recent high near $390 to a low today near $290. This epic 3-week fall should spook investors as big hedge funds are dumping their positions. Large funds cannot risk their performance on a loony tweet. There is too much money on the line.h3 Tesla Technicals/h3
Based on my chart analysis, the stock will see continued momentum to the downside to its first support at $273.75, then after a hard bounce and another leg lower to $245. That's where I'll be waiting patiently to begin buying shares. It is likely that we could see the bottom target by year's end.
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