Tesla Inc (TSLA) has been a cult favorite for years. This has only been accelerated in the last month with a total market bubble forming in technology. Dumb money has popped the stock to obscene levels. The hype is worse than 1999 with the dot.com bubble. Arguably, great earnings, a million mile battery and being added into the S&P 500 are already factored into the stock. Today’s drop ahead of earnings is showing huge signs of big money dumping. Ultimately, the stock is going lower. Below are the Tesla target price levels.
Based on the chart correction signals, the price target one is around $1,200.00 with target two is $975.00. At a $300+ billion market cap, Tesla is the size of almost every other car company combined. The bubble is epic but will collapse. The pikers will fight it but history repeats. I will consider buying Tesla below $1,000 for a trade. Maybe a long term investment below $500.00.