The absolute rip out of TSLA has been a good one. As they say, "what goes up must come down" though too.
If we are in need of a major pullback after this rip up, are we forming a head and shoulder pattern of
sorts? Hard to say but given how violent the move has been, that often is met with an equal and opposite
move and that puts the chart in a precarious position. If the pullback is not too extreme and we form a new
base around $200, then we could be looking for new All Time Highs, on the next move up. I feel that this
would most likely be the case because there is a lot of fundamental news to back up further growth in
TSLA stock. The federal tax credits are big windfall for TSLA and was much needed. Is it enough?
I think the TSLA bull case will require the mastery of hands free driving technology that has been
promised since the beginning and their robotic products to retail and have a positive public reception
of the technology.
If we are in need of a major pullback after this rip up, are we forming a head and shoulder pattern of
sorts? Hard to say but given how violent the move has been, that often is met with an equal and opposite
move and that puts the chart in a precarious position. If the pullback is not too extreme and we form a new
base around $200, then we could be looking for new All Time Highs, on the next move up. I feel that this
would most likely be the case because there is a lot of fundamental news to back up further growth in
TSLA stock. The federal tax credits are big windfall for TSLA and was much needed. Is it enough?
I think the TSLA bull case will require the mastery of hands free driving technology that has been
promised since the beginning and their robotic products to retail and have a positive public reception
of the technology.
