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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:
Positives
TechnicalsLooking 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.More By This Author:Yields Up, Dollar Up, Junk Bonds TumbleAn Eggs-cellent First Quarter — What’s In Store For The Rest Of 2024? The Economic Modern Family Ends Q1 Upright