Tesla Price on the Verge of Collapse?
The price chart of Tesla is on the edge of a cliff. Twitter haters may use TSLA shares as a bearish Proxy since they can no longer short the stock. Breaking below the 2021 lows could trigger a cascading decline.
Tesla Price Chart
Below is the daily chart of TSLA. Prices have held support for 2-years. If it breaks now, it could trigger cascading stop losses lower. The next 2-weeks are crucial.
- Tesla is testing critical support near $180.
- Twitter bears can no longer short the stock after Elon took TWTR private.
- Worst-case scenario: The bears use TLSA as a proxy for Twitter crashing prices below the 2021 lows.
In summary, Tesla shares could be on the verge of an epic breakdown.
It could get nasty if prices fall below $170