Thread: TSLA - Tesla

Looks to have lost the 50DMA. Momentum oscillators all weaker than when this previously happened in November.

The rounded top in all tech seems to be breaking lower.

Yeah, very important to hold. Only a few closes below the 50-EMA in the past year.

Will Bitcoin be the tail that wags the dog or other way around?

Originally Posted by Bullitt

Will Bitcoin be the tail that wags the dog or other way around?

TSLA doesn't have enough exposure to it to matter much right now. $1.5B invested in BTC is nothing compared to the size of that company.

I'm with you. It will probably matter, until it doesn't. But it makes for a good headline.


Tesla’s share price is now directly tied to the value of bitcoin, analyst says

Daniel Ives, an analyst at Wedbush, said Elon Musk and Tesla are now tied to the bitcoin story.

“Although Tesla made a billion paper profit in its first month owning the digital gold, it comes with added risk, as seen this week,” said Ives.

Musk has been tweeting about the cryptocurrency on and off ever since, raising alarm bells in some corners. He’s also been tweeting about other coins like Ethereum and Doge.

https://www.cnbc.com/2021/02/23/tesl...yst-warns.html

A breakout of sorts on TSLA this morning as it broke its downtrend, but the 50-day EMA was hit like a brick wall so far.

50% fib retracement from the low is in nearly the exact same spot as the 50 EMA too.

With the pop above the 50-day EMA yesterday, Tesla was showing signs of bottoming. But it may be failing here at the 50-day EMA, in which case it looks more like a bearish flag.

The close matters, but right now TSLA is falling back below the 50-day EMA.

Estimates say TSLA is in Bitcoin at $39,000. The trade is now underwater.

The market value of Tesla Inc's bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker's purchase cost.

https://www.reuters.com/technology/t...wn-2021-05-19/

They better DCA.