Tesla - falling channel or bull flag ?

2 Şub

A simple chart with fib retracement of the move since the end of October to ATH.

This could be a 5-wave move up with correction to the 0.618 retracement and turn into a bull flag pretty soon. Or it can keep correcting within that channel.

Tesla is a stock that is not trading on fundamentals, but on investor sentiment and Elon Musk mixed with lots of fibonacci pinball by the trading algorithms.

It all depends on the NDX. If the index goes up, so does TSLA. If it doesn't, next target is 320$.

6 Şub

Not

support broken at the 0.618 retracement. Going lower and another confirmation of the channel.

10 Şub

Not

0.5 retracement reached, daily RSI quite low, could see a bounce here. More downside probably ahead, EM doesn't seem to care, he has a new job now. Maybe he is even selling...

11 Şub

Not

didn't think it would reach the 32X area this quickly, but here we are:

12 Şub

Not

bullseye (or bears)

13 Şub

Not

this is just perfect algorithmic trading, rejection at the midline of the channel:

25 Şub

Not

next moves: 330 > 280$

28 Şub

Not

reached 280 sooner than expected

6 Mar

Not

might as well close the gap at 255

11 Mar

Not

all gaps are closed, 100% retrace, expecting short covering now

25 Mar

Not

might be insane, but maybe not:

30 Mar

Not

after rejection at the 30D and 200D moving averages (like the entire market) the next target with a high probability is the 180$ region:

1 Nis

Not