Tesla is trading within a larger weekly-monthly distributive pattern. The 7-month trend has been within a BEARISH descending channel. Each prior attempt to test the upper trendline has formed a rally to has failed to follow through...an "upthrust." Longs are holding onto *RISK* into resistance. If the 50% Fibonacci retracement holds the bias would continue...
TSLA is currently in an uptrend however it might break the uptrend thanks to a prediction done with the technical indicators that all show that TSLA is overbought. I have drawn the support (green) and resistance (red) horizontal lines. The price is getting close to the resistance level at around 193.50 and might bounce back down to around 183 at the first...
Consumer reports just downgraded the rating on Tesla's Model S to "worse-than-average" citing the fact that consumers "chronicled an array of detailed and complicated maladies" with the popular sedan. Couple that with bearish technicals, e.g. the wedge pattern and lower highs, and its a bleak outlook for TSLA in the near future. Also note the relative lack of...
Seems to be a 50%retracement of the 3rd elliot wave. It is also a level of previous support and resistance (the red line). The red rectangle is an area of possible resistance (calculated with multiple fib retracements and projections) place stops above it. Only thing thats making me a bit less confident about this trade is the fact that we broke out of the...
Entry Pending as per setup. Will update tomorrow with entry, if pending not hit. Could be a few days of chop.
With a 3 day weekend coming up and China still a major bearish fundamental influence, I am shorting certain speculative tech stocks that will likely take the most short term punishment. TSLA is one of them and I like how a technical trend channel is providing a great entry for a short. I expect at least a minor selloff on Friday for traders/investors that simply...
Tesla Motors stock looks like it could be forming a head and shoulders pattern with ~184.50 as the neckline. It also broke the uptrend line from the end of March recently and could be forming a bear flag. Historically this stock offers very good risk vs reward opportunities on the short side when this happens. The plan is to open a starter short with risk on...
Tesla Motors stock looks like it could be forming a head and shoulders pattern with ~184.50 as the neckline. It also broke the uptrend line from the end of March recently and could be forming a bear flag. Historically this stock offers very good risk vs reward opportunities on the short side when this happens. The plan is to open a starter short with risk on...
Great reversal on TSLA yesterday with confirmation today from the Golden Ratio. My thinking would be it reverses to the 0.382 level ($223.45) and reverse back upwards.
Insync Index showing a bounce off the 4 hour 75 line signaling bearish. The 4 Hour Stoch RSI is sloping downward after peaking at 100. Macd crossed downward and i drew lines for its future macd and MA lines. My prediction for TSLA price is drawn on the candlestick chart, im under the assumption that the recent 10% spike needs a little profit taking and some...
With MACD and RSI going negative.
TSLA has stuck to its new daily trend short was entered @ 215.00 hopefully can see a downside to 190 would be great. Head and Shoulders in play and break of an old upside trend.