Tesla - falling channel or bull flag ?

2 feb

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 feb

Nota

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

10 feb

Nota

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 feb

Nota

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

12 feb

Nota

bullseye (or bears)

13 feb

Nota

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

25 feb

Nota

next moves: 330 > 280$

28 feb

Nota

reached 280 sooner than expected

6 mar

Nota

might as well close the gap at 255

11 mar

Nota

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

25 mar

Nota

might be insane, but maybe not:

30 mar

Nota

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 apr

Nota