Technical Analysis

(not forex, but I can’t resist) Tesla tests key 2018 floor…

Elon Musk’s stock is sitting on the precipice.

Tesla’s earnings came out last night and misssed by a lot (like 10%).  Elon Musk – true to form – gave the upbeat view that the firm would return to profitability in the 3rd quarter, blah, blah, blah.  The stock actually was higher today, but has since reversed and trades down -$11.54. The low has reached $246.07

That low today is between lows from 2018 at $244.59 and $247.77.  Looking at the chart, Tesla tends to trade to swing levels and either sell or buy.  This is one of the buy levels that should stall the fall, but given the earnings news and Elon Musk’s declining lack of credibility, it makes you wonder if the floor will be broken. 

What we do know with Tesla stock is it may be a great car, but expect a bumpy ride. 

ForexLive

Articles You May Like

CNBC: Next round of US China trade talks are in flux
NZD/USD: Little positive around 0.6530 due to optimism at largest customer
Forex trading italiano guida tutorial ITA 2018
Oil technical analysis: The downside prevails below $64.00 a barrel
EURUSD trades back near unchanged in up and down day

Leave a Reply

Your email address will not be published. Required fields are marked *