Technical and fundamental setup
Only thing I believe holding it back is investor caution for the US presidential election
Only thing I believe holding it back is investor caution for the US presidential election
Comment:
The market is on a downturn, as the S&P500 touches top of it's megaphone pattern and plenty of uncertainty in the market.
Comment:
The market isn't selling off in haste. There is a new covid situation building. Some profit taking and consolidating seems to the the reaction. The market isn't as hot as it was before the August sell off. I believe once the market realises who wins the elecrion, particularly if is Biden, the market will get back in gear and push up for a few months again. If Trump wins, there maybe a bit more selling before the rally.
Stimulus back on the minds and lips of the politicians/bankers, the uncertainty out of the way, we should see Teslas newly solidified profile grip it's stock price, shooting it to the next level.
Stimulus back on the minds and lips of the politicians/bankers, the uncertainty out of the way, we should see Teslas newly solidified profile grip it's stock price, shooting it to the next level.
Comment:
As I speak, Tesla has broken out of that little selling cycle. $430. This could be the pop I was looking for
Comment:
I hate when things go wrong, but that's a part of the game. Reassessing and moving with the times is all one can do.
It's broken trend and is accelerating to the down side. I think $360 is a good support level. $389 as I speak
It's broken trend and is accelerating to the down side. I think $360 is a good support level. $389 as I speak