I started a position with Tesla in late October last year.
For a good two months before that, Tesla share price was hovering steadily at around US$300 per share.
Then it dived suddenly in early October before regaining some support at around US$225.
That’s when I entered to buy some Tesla shares and hoping for a quick rebound.
But as you can see from the chart, that was not to be.
It rested at US$225 for a while before it went down again to about $180 to obtain another support level.
The worse was yet to come … then in early Dec, it started to decline sharply and eventually reached the bottom at $108 just after the new year holiday. OMG !!!!
As the share price declined, I bought at several price points – $170, $140 and $120.
The sharp drop in Tesla share price, almost halved in just 4 weeks, really shocked me !
At that moment, I was about to lose hope....