Tesla and Elon Musk are always in the news for one reason or another. However, nobody is talking about price action and supply and demand. Price action creates imbalances made of price action and candlestick formations. Tesla’s stock price could drop as far as the $60 price level in the following months. That doesn’t mean that Tesla’s stock price will tank very fast in the following days; we are talking about longer-term stock analysis.
Candlestick formations and supply and demand imbalances can tell us a lot about a stock’s future and where the stock price is heading. In Tesla stock, price action is clearly bearish. Moreover, when the stock price has reached an imbalance on the weekly timeframe. Tesla TSLA stock has been trying to react to the weekly imbalances for a few weeks now and is probably heading south as expected. This Tesla stock analysis can help you plan trades using smaller timeframes or bearish option strategies.
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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