Downloading...
Download

Teslamarkets

Tesla in October 2020 I've highlighted or marked the double-top pattern that IS NOT YET CONFIRMED. This week we got the news of Battery Day and the hype has died down. Both rejections on the Weekly chart show more Bear Volume than Bull. MACD hasn't flipped bearish since March. RSI is still over-heated. The U.S election is 40 days away and there has always been a market dump around this time. These are all prime factors to consider for what Tesla's price action will look like in the next month or so. Being short or cash is the best move at the moment with all of this uncertainty.
NASDAQ:TSLAShort
by tired_man_willis
1
TSLA Stock Split had me interested but...TSLA is the hottest performing stock of the year and that's great but there's a few things to keep in mind short-term. On the Weekly time frame the stock is nearly parabolic. A combination of that along with the RSI starting to show bearish divergence has me seeing it pulling back sometime in the next 3 months (Nov/Dec). On the lower time-frames you'll also see bear volume increasing. I think we'll top off around $550 but historically speaking we've had dumps around election time. Smart money would wait until November/December when the Daily and Weekly RSI hover back down to the 40 range. Additionally, you have fresh meat entering the market via Robinhood etc who aren't familiar with the stock market or technicals. Any sell-off will be exacerbated by them panic selling. Target for a rebuy is $275-$280.
NASDAQ:TSLA
by tired_man_willis
2