Perhaps no company (or stock) is more divisive than Tesla (NSDQ: TSLA). If you haven’t seen the recent debate on RealVision, Tesla: Electric Noise, it is a must watch. Fundamentally, Tesla has deeply rooted financial issues it must confront in the coming years. Technically, it may not matter – at least in the short to intermediate term. Price, as we know, is not always a reflection of fundamentals.
What I see from the log chart over the past 30 months is that Tesla is trading in a range with big technical swings, depicting an epic price struggle between bulls and bears. Until price moves out of the rectangle above, the chart offers no definitive direction. The 200 day moving average is flat as a pancake. It’s wait and see for Tesla.
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Paperback: 128 pages
Author: Shelley Allen, M.A.Ed.
Publisher: Fibonacci Inc.; 1st edition (2019)