Chart of the day

Where do we stand fundamentally?

Investors are closely watching Tesla as it prepares to release its Q4 2024 delivery numbers on January 2, 2025. These numbers are critical as they could influence the stock's trajectory, with analysts setting expectations of around 506,763 vehicles delivered. Missing these numbers might pressure the stock price while exceeding them could propel it further.

TSLA was rejected from a strong resistance of 500. My KNOWPO trading system indicates a good low-risk short trade here, as I expect a reversal downside to gain traction, especially in the case of a break below 400. The medium-term target should be 310.

A break above 500 will invalidate the downside reversal and lead to a higher extension. A break below 400 will accelerate the downside reversal.

_{You can take a short trade entry with a stop loss above 470 to target 300.}