Teslaלונג
$TSLA Weekly RSI oversold, potential price bottom.
As seen on the chart, TSLA has reached oversold on the weekly timeframe for its third time in history. Previous two times were a longer term bottom for the stock price. It's a possibility that this will occur again, the P/E ratio has dropped considerably from it's overextended levels, and FUD for Tesla is at a peak.
However it must be noted that Elon Musk himself has said multiple times that there's a recession coming, for which he has already prepared billions of $ in cash reserves seen by his recent stock sales.
TSLA has reached oversold on the weekly timeframe for its third time in history. Previous two times were a longer term bottom for the stock price. It's a possibility that this will occur again, the P/E ratio has dropped considerably from it's overextended levels, and FUD for Tesla is at a peak.However it must be noted that Elon Musk himself has said multiple times that there's a recession coming, for which he has already prepared billions of $ in cash reserves seen by his recent stock sales.
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