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Tesla's actions went wrong.
"For me, it looks like we're going down again and testing the bottom end of this course channel again, confirm it before we can exploit any tactical trading opportunities with those stocks," Johnson said. "I'm waiting for him to retire and retest this level."
A drop to $ 240 would be a drop of about 13% from the current $ 276. The stock has not traded below this price since the beginning of 2017.
Fundamental questions also weigh on Tesla, says Michael Bapis, Managing Director of Vios Advisors at Rockefeller Capital Management.
"I can not feel comfortable owning it at the moment," Bapis said Friday at the show. "They're really struggling with the brand definition, they do not really know who they are, they do not know what's the difference between them, Ford, GM, and they have production and delivery issues." Competition is fierce up. "
Volkswagen has stepped up its efforts in the field of electric vehicles with $ 9 billion dedicated to developing its Audi arm. "Tesla killer" Nio is also making progress in the Chinese market.
Tesla is also trading at an extreme premium level compared to its peers, Bapis said.
"They are trading at unity with market capitalization of $ 120,000, Daimler and BMW are trading at $ 30,000, so it's four times more than any other market capitalization," he said. he declares.
Tesla is the second worst performance on the Nasdaq 100 this year. It has decreased by 51% in the last 12 months.
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