Tesla stock is fundamentally overvalued at $280 and belongs below $200 per share; if it breaks below $270, a significant drop is predicted.
"Remember what we're looking for Tesla on Tesla is for Tesla to break below 270. If it does, there's a huge gap down potential. Tesla doesn't belong at $280 per share. We all know that fundamentally it's not doing well right now. Its sales are down year-over-year. It belongs sub $200. But as long as hype is present, as long as markets are bullish, it's giving Tesla the environment to sustain this hype. Once that support is broken and more fear continues to get injected, if it does, then that's where we can ride this thing all the way back down. Until then, no confirmation. So, when in doubt, cash out."