TSLA Earnings sends stock to $1400 and marks a market wide top!
Updated
I just checked out the monthly log chart for TSLA and despite being super bearish noticed that there is still room to run!
TSLA reports earnings tomorrow after the bell, 4/29/2020.
Single asset bubbles and large IPO's often mark market wide tops. This is the perfect storm... earnings, parabolic move in TSLA roasting the shorts, and the perfect "Sell in May and go away" thesis.
All the monthly log charts for the indices and overweight stocks of the 11 year bull market are all topped out.
On the bright side... the small caps are all bottomed out completely on monthly log charts.
Holding over the weekend could prove to be brutal... play safe friends!
TSLA reports earnings tomorrow after the bell, 4/29/2020.
Single asset bubbles and large IPO's often mark market wide tops. This is the perfect storm... earnings, parabolic move in TSLA roasting the shorts, and the perfect "Sell in May and go away" thesis.
All the monthly log charts for the indices and overweight stocks of the 11 year bull market are all topped out.
On the bright side... the small caps are all bottomed out completely on monthly log charts.
Holding over the weekend could prove to be brutal... play safe friends!
Note
The small caps could take the spotlight for the rest of the year just long enough to prop up the electionNote
To elaborate.. this is the perfect heist for Wall Street to roast the shorts and then proceed to burn margin longs alive who buy the top. Tesla is overvalued beyond belief... but a run to the top of the monthly logarithmic chart would be so unexpected and would be devastating to retail margin on both sides of the trade.Always expect the unexpected...
Note
Low IQ comments below are likely the result of not reading the post fully. Trading is not about ego, it's about keeping an open mind to a multitude of scenarios, and above all, risk management.Note
FYI- my previous TSLA post still stands, this is just another possibility on the Wall Street villain side...Note
Google "Blow off top"Note
markets.businessinsider.com/news/stocks/tesla-ceo-elon-musk-verge-millions-payday-stock-price-valuation-2020-4-1029140282Maybe he's paying a kickback to WS? hehe
There's rumors of another offering as well...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.