On May 23rd, 2019 I posted a bullish call on $TSLA: “You buy when bulls give up!”.
This is what I wrote back then:
“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.”
When I posted that call TSLA traded at $197. By June 3rd it dropped to $177. And even though I did not nail the very bottom,the shares are up nicely since then.
This morning TSLA opened at $229.20 which is 16% higher that its price at the moment of my previous bullish update. I reaffirm my bullish expectation for TSLA stock. It looks having completed a large corrective W-X-Y structure and is ready for a rally targeting new higher highs.