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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Wednesday, February 07, 2018

What's Ahead for Tesla (TSLA)?

I have a question for Elon Musk (of course it's silly, but a little levity never hurts). Where's the next charging station located for his space-bound Tesla Roadster👀

The following news clip and videos from TheGuardian.com describe yesterday's spectacular space launch...

At the moment, price on this weekly chart of Tesla (TSLA) is embedded in a large downward-sloping consolidation zone. As long as it stays above its channel median, and as long as the momentum indicator remains above the zero level on this timeframe, there is a chance we could see it recover to retest prior all-time highs, and, even, push higher. Otherwise, a drop and hold below these levels could see it drop to the channel bottom around 280.00, or lower.

Perhaps yesterday's successful launch will be the shot in the arm to resuscitate this stock.