Tesla: Looking Lower

Comments on the chart
Comment: Good downmove yesterday and today. Still looking lower
Comment: The descent slowed today. Could be partly because price is running into support. I am still bearish but there is a gap on the chart that could be filled before more downside
Comment: More downside seen on Friday. Price is right on support now. If that gives way and I think it will 245 is the next significant level
Comment: Price gapped up today because of the China announcement and also new car releases info from Tesla today. Price still failed to crack and stay above the 290 area on the chart. It might be euphoria or it might not be. Barring a close above the resistance area I am still bearish Tesla
Comment: Price is pounding on the 275 support area. If you squint you might even say that price has closed below support. 244 might be calling
Comment: Price is still hugging the 274 area. Looking at he candles around this level - they are small and going nowhere. I believe this level will fail soon and price could be on its way to the 245 area
Order cancelled: This 274 area is proving serious support to crack. I admit to exploiting this thinking and buying the stock @279.38 and closing at 284.44 today for 500 odd points profit. Despite a 450 point drop in the Dow this stock is up. So we cannot get away from the fact that this stock has some serious backers and supporters. Could be secret intervention (or not) but I am not going to fight the big boys here. So this idea is closed until 270 is reached and the stock is not oversold


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