Loading ...Going to Zero – Are Tesla’s Days Numbered?
This chart is one I have not looked at in a couple years . Wow, gloom written all over it. Sorry to say but if you are a holder and keep holding your investment is very likely going to zero. That is the projection using Gartley Extensions as you can see below. We can never say that with too much conviction though since a lot could happen between now the final bottom, but the look of this gloomy chart gives me the shivers.
The last time I declared a stock doomed it was Bed Bath and Beyond. We know what happened there. Anyway without knowing why there is a problem with Tesla I can still see that one exists. Is it because EV’s are doomed as a concept? Is it because the market itself is about to roll over and fall? Whatever it is, this chart gives me indigestion and I would not own this stock unless I was short.
Agree on Tesla
Looks bad
Yes, maybe not zero, but definitely much lower. Over the last few years I have posted about it being way overvalued and specifically that Cathy Wood was a mindless, momentum chaser, who looked great for the few years it and Bitcoin and other FOMO crap was going higher, but she would end up being a discredited bag holder when all was said and done. She is actually continuing to buy this garbage all the way down. It will get a rally again somewhere in the cycle, but is headed much lower in the long run.