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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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N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Thursday, March 29, 2018

Tesla's Worst Month May Not Be Its Last

March was Tesla's (TSLA) worst-performing month since its IPO in June 2010, as shown on the following monthly chart. It 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...