CHART: TSLA has retraced to the 50% level @ $650 with the overall market beginning a declining wave. Expectation is a return to lows for TSLA.
FUNDAMENTAL: Demand and deliveries have cut in half. Projections of economic recovery are progressing further into the future.
TARGET: $330
The price of SPY reacted to resistance are @ $75. The chart action is reflecting 2008-2009 decline. If the 2008-2009 fractal plays out, there should be steep drop in SPY before ranging near the lows.
SPY SHORT: $273
TARGET: $230
OWENS & MINOR INC NEW COM -
Chart: Advanced off lows and consolidating in an area of long term support/resistance for over six months. A breakout over $8 should lead to appreciation to >$18.
Fundamentals: Medical supplier seeing increased sales of essential PPE used in COVID19 fight. Sales will continue for several years as the virus is fought and after as...
Live Nation Entertainment {LYV}
Chart:
The price has rebounded to the 50% fib retracement which also aligns with historical support/resistance areas.
Fundamentals:
Live entertainment will be one of the hardest hit areas form the COVID19 pandemic.
Short Target: >$28