CastAway Trader
CastAway Trader Predict the Next Market Move

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TSLA - you buy when bulls give up

When Morgan Stanley analyst who used to be bullish all the way down and maintained target at $379 finally throw in the towel and promises apocalyptic scenario when $TSLA tanks to $10 you know, it is time to buy. Price reverses its bearish trend when the last standing bulls give up and everyone who could sell has already sold. This is exactly type of negative sentiment I saw in $GE when it bottomed in December 2018.

Back then the leading analysts predicted $GE to drop under $6.00. However, it bottomed at $6.40 on 11 December 2019 and kept going up for weeks.

TSLA - Daily chart updated on 23 May 2019

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