Here's the level where you should start buying Tesla: Expert

The Tesla stock is in desperate need of a refill.

Shares of the electric automaker hit a new low of 52 weeks on Wednesday, down 6% after a Citigroup badyst issued the second bearish call of the week on the stock. On Thursday, the futures market showed a 3.6% drop to the opening bell, dropping below the $ 186 per share mark.

Citi's call, which gave Tesla a 40% chance of falling to $ 36, comes one day after Morgan Stanley badysts said the worst-case scenario for the stock was a possible dip to $ 10 a share.

The setup looks bleak with Tesla shares down more than 42% for 2019 and CEO Elon Musk calling for an "unconditional" cost cut in the prospect of $ 2 billion financing.

But some, like Bill Baruch, president of Blue Line Futures, have their eyes on the bet against the current.

"Right now, you get a flush, which usually happens when there are super-bullish calls on the street, just let that thing go," he told CNBC's Trading Nation on Wednesday. "There will be a purchase of value at some point."

Baruch highlighted a long-term trend line offering support around the $ 180 level. The average directional equity index, an indicator that measures the strength of stock trends and leaves more room for decline, advised Baruch to let the selloff dissipate a little longer before launching.

He also noted that the relative strength index, which follows the dynamics, is reaching oversold levels that are generally perceived as a sign of an imminent rebound.

"That RSI is really low," Baruch said. "Let the ADX show a stronger trend.Let it go down to $ 180. At this point, I think you can buy calls with maybe 30 or 60 days, or just the underlying stocks, and look for a short-term business opportunity. "

John Petrides, managing director and portfolio manager at Point View Wealth Management, was far from optimistic.

"As a value manager, I still do not see value in the company," he said in the same interview with "Trading Nation". "Valuations are still too high, you have a business burning cash flow, it has balance sheet problems, you have a joker for a CEO, you have board members who are not looking to be re-elected. "

Although many of these problems have been around for some time, Petrides suggested that the latest titles have put them in the forefront.

"You finally have the shine … coming out of the car," he says. "And that's what you're currently seeing in the stock, and that remains unattractive to my taste."