UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
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Thursday, March 29, 2018
Tesla's Worst Month May Not Be Its Last
The March candle closed just above a medium-term 50% Fibonacci retracement level and below a long-term -50% Andrew's Pitchfork channel line.
We may see price decline further to the bottom of the pitchfork where it converges with the 60% Fib level at 236.00. Inasmuch as the momentum indicator has made an all-time swing low and is diverging with the overall price uptrend, it is hinting that further weakness lies ahead. Alternatively, major resistance sits at 300.00 (confluence of 20-month VWMA and 40% Fib level).
A break and hold below 236.00 would not bode well for this stock.
I think that "Ground Control" is signalling that it's time for Elon Musk to return from outer space and plant his feet convincingly on terra firma, once again, to deal with this loss of confidence by shareholders (translation: mess), which has been building for over a year. He will ignore the "gravity" of the situation to the peril of TSLA.
Is this what's in the cards for TSLA? Just a thought. Time will tell...