TSLA - broke the 0.5 Fib
Updated
This is playing out well to the downside.
We just pierced the retrace 0.5 Fib.
Ahead we have the 0.618 @ $812 and 0.786 @ $694.
We have filled the first gap, and are headed to gaps 2 and 3 as our story has played out in my previous posts.
We have also fallen out of and back checked the yellow downtrend channel.
The purple line is long term bull trend support, so that interaction will be very interesting.
As I said, my LO's sit at $823.
We just pierced the retrace 0.5 Fib.
Ahead we have the 0.618 @ $812 and 0.786 @ $694.
We have filled the first gap, and are headed to gaps 2 and 3 as our story has played out in my previous posts.
We have also fallen out of and back checked the yellow downtrend channel.
The purple line is long term bull trend support, so that interaction will be very interesting.
As I said, my LO's sit at $823.
Note
Pretty violent upside immediately after posting this. Apparently, people want to buy TSLA stock. It is currently contained by the upper bound of the downward yellow channel. Since I am waiting to buy and am seeing what looks to be the start of a wave of "risk on" type buying (unexpected I add, until the new year)... I may just have to capitulate if I see price break out/successfully back test the yellow channel.Note
Capitulation.Looks to me like the 0.5 Fib retrace is all we are going to get for right now. I bought back in just now at $998. So I turned 16 shares @ $1234 into 19.2 shares @ $998.
I feel naked without my TSLA shares.
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