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recently more and more people are asking me about Tesla they're wondering should I buy Tesla stock or is it time to sell and that's what we're going to talk about in this video so what's going on with Tesla as I'm recording this it is the beginning of September and for the past few weeks Tesla has been in the news especially is CEO Elon Musk people are wondering has he lost it has he bitten off more than he can chew and Tesla seems to be in trouble so right now is it a good time to buy Tesla or should you sell Tesla let's take a look at this together so let's just go to finance yeah whoo calm and take a look at the stock if you're looking for the symbol here it is TSLA you'll see Tesla and what you'll see is that there is many news around Tesla right now for example today mercedes-benz unveiled in electric SUV so does this mean that Tesla is in trouble but on the other hand Tesla promises a surprise reveal on Wednesday in Switzerland so there's a Tesla Tesla battery fire investigation as you can see there's a lot going on so what should you believe this is why I like to look at the charts because I believe that all this news is already factored into the prices now for me it's all about trade what I see and not what I think because whenever I have an opinion I'm usually wrong so what I like to do is I like to look at the daily chart here I just look back over the past year here is where you see what Tesla has done over the past year and as you can see it was as high as 400 and as low as 250 so where will it go from here well I like to plot three indicators that help me to identify what Tesla is more likely to do over the next few days and weeks the three indicators that I like to use are MACD RSI and stochastics and here's what I'm looking for I want to see if the purple line with the MACD right here which is the MACD itself is below its signal line which is the orange line I want to see whether the are sigh which is right here is about 50 or below 50 and the same with the stochastics now when stochastics is below 50 and RSI is below 50 and the MACD is below it's moving average this means that the stock is more likely to go down and this is what we see here with Tesla as you can see a few days ago for the first time we got the signal already then right now Tesla is about to roll over now this is when we had a what we call dead cat bouncing so Tesla bounced back up but then as you can see is moving lower and lower as of right now as I'm recording it it's a two hundred and eighty eight dollars and ninety five cents and there's no end inside as you can see all three indicators are still pointing down so right now I am bearish on Tesla for how long as soon as one of these three indicators starts turning around meaning that either the MACD purple line is above the orange line or the RSI is about 50 or the so castex is about 50 so right now it seems that Tesla is in freefall now let's take a look at a drawing line here and as you can see right now Tesla has found some support let me just mark it in red here it has found some support right here at this level so as you can see over the past few weeks right here Tesla moved as low as 286 dollars on this day as low as 288 dollars and this is where we are trading right now now this support line could actually provide support over the next few days once the support line is broken I believe that Tesla could easily go down to $250 maybe even lower I'm still bearish from Tesla because just looking at the chart at the indicators they're telling me it is more likely for Tesla to go down than it is going up what do you think Tesla will do its Tesla more likely to continue to go down or has it found the bottom and will it go up right now what are you thoughts also let me know if you enjoyed this analysis and if you would like to see more if so let me know what stock symbols you would like me to look at and I'll be happy to do that for you until then make sure that you subscribe to this video so that you are informed immediately when I release a new one simply hit the subscribe button and again don't forget to leave a comment and I'll talk to you soon click like and leave a comment and let me know what you think make sure to subscribe to this channel to get new videos automatically
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