Is TSLA stock a buy… I bet it is within this extreme dip buying plan

<p>Is TSLA stock a but after its big earnings drop? </p><p>
The recent earnings announcement from Tesla, last night on 24 Jan 2024, has resulted in a notable 7% to 8% decline in its stock price so far, sparking discussions among investors about potential buying opportunities. This situation has brought to light a unique investment strategy that introduces a staggering 12 to 1 reward-to-risk ratio, particularly appealing to long-term investors looking to capitalize on Tesla's current market position.</p><p>A patience-rewarding tade strategy for TSLA stock
Itai Levitan at ForexLive.com suggests to consider, at your own risk, a strategic approach for investors eyeing Tesla's stock. The identified trading range for Tesla, spanning from $100 to $400, has been consistent since August 2020. This range is characterized by significant trading activity and is anchored by two pivotal price levels: the value area high at $162.50 and the value area low at $142.78.</p><p>The strategy is based on patience and precision, recommending buy orders at key points. The initial buy order is set at $163.77, with subsequent buy orders at $157.73, $142.78, and $131.76. These points target the lower ends of the identified range, aiming for an advantageous entry into the market.</p><p>TSLA STOCK TECHNICAL ANALYSIS VIDEO, PRICE FORCAST AND LONG TERM TRADE PLAN WITH A 12 TO 1 REWAR VS RISK POTENTIAL</p><ul><li>Averaging out an attractive entry price for this Tesla stock trade plan
If the market fills all these orders, the average entry price consolidates at $148.82. This average reflects the comprehensive cost per share across the entire investment, offering a balanced entry point.</li><li>Always have a stop, in ths case sell your TSLA Long position close to 141
To manage potential risks, a stop-loss order is advised at 5% below the average entry price, at $141.38 . This tactic is crucial for limiting losses in case of unexpected market downturns.</li></ul><p>Unlocking high reward potential for this long-term TSLA trade plan
The strategy's strength lies in its extremely high reward-to-risk ratio. Two profit-taking levels are identified: $197.13 and $238.00. The first level offers a 6 to 1 ratio, where traders would sell a third of third Long position, while the second a 12 to 1, fo selling another third of the position, an the third profit target at 18 to 1, thus averages the potential to an impressive 12 to 1.</p><p>Effective risk management and profit taking, a third at each profit target
It is recommended to liquidate one-third of the position at each profit-taking level. This method allows for securing gains while also mitigating the risk of market reversals.</p><p>This investment approach is tailored for those who are patient and willing to wait for the market to align with the identified price ranges. It's a strategy more suited for long-term investors rather than those looking for immediate returns. Do return to <a href="https://www.forexlive.com/" target="_blank" rel="follow">ForexLive.com</a> for future updates and various views.</p>

This article was written by Itai Levitan at www.forexlive.com.