Elon Being Charged By The SECIf it holds on the current trendline we could see a reversal, otherwise, we will most likely see a violent drop. Follow me for more charts!
ELON-MUSK
Long Term Ascending Triangle but Watch that Support!It's tough to imagine being anything but long-term bullish on Tesla.
There's strong resistance at $400. May consider buying more if it ever breaks, but with the recent news that Tesla will remain public, it could be a while before that happens. Until then, I may buy on dips, but don't expect any huge short term gains. I'm in it for the Tesla mission. However there's always that chance that it breaks early and we can start talking about TSLA at $4000 in a few years. The only reason we're not seeing exponential growth already, is because fossil fuel shorts. They don't care if they lose money shorting Tesla. As long as they get to keep their pundits in the media, spreading FUD, their mission is accomplished. They know their days are numbered, but they're still cashing in while they can at everyone else's expense. If you're smart, you can see through the bullshit and noise.
Will be keeping a close eye on that ~$290 support. If it breaks below in a big way, that will become the new resistance. If that happens, the planet loses, we all lose.
The Tesla Beasrs are really getting desperate. It's hard not to see Tesla's recent dip in price as a classic example of the market following a short term narrative that is a measure of our feelings and reactions instead of a measure of a companies true long term value potential.
So Tesla hit the 5000 units per week that everyone said they wouldn't so the bears/shorts/fossil fuel proponents and general haters response was to go on a negative media blitz with all kinds of comical criticism, like Elon was yelling a lot on the factory floor. Or they had to pull works off the S and X lines (even though those line still hit their goal) or they say that production might drop to 4500 in July. Or they don't like that there was an innovative tent assembly line, or lot's of people were working over time.
The argument that they can't make any more is about viability, they can't deny Teslas ability to mass produce these vehicles. Even if it does drop to 4000/units in July, what do you think August and September will be? hmmm, probably at least 5000/units. Now is it profitable? well Tesla reports a gross 20% margin, do you think they are lying to the SEC? that's quite the claim to make, any evidence?? Third party firms also agree the model 3 vehicle probably has a 20% gross margin.
But there are still a lot of overhead costs eating up capital like building one of the largest structures known to man kind, that costs a little bit to do, but as they start producing more and more vehicles the 20% margin will start to create a larger and larger pool of cash to offset diminishing investments costs.
The math here seems quite strong. Revenue goes up, expenses goes down, profit emerges. All though I am still pessimistic they they will report a net profit this year. What if they run out of money??? well share holders won't like it but they will be able to raise more money, production will increase, revenue will increase. Even if the debt is restructured, investors won't have the Giga factory chopped up and auctioned off.
I think we've hit escape velocity.
Tesla.. watch the purple lineRepeating myself...watch the purple line. If it ain't broken, a decline on short and medium scale should begin.
Flying Elon Mask | First 2D Animation on TradingView <3Flying Elon Mask | First 2D Animation on TradingView <3
SCTY crossroadsDescending triangle spotted in SCTY weekly. Will coal affect it's price?
I'm seeing two patterns. One is a descending triangle continuation or an inverse head and shoulder.
Whatever it is, do take the time to observe how it unfolds. Personally, I think it will bounce to $46 and then range. I personally do not think it will shoot up or shit all the way down.
I'm neutral
TSLA Cup and Handle 2.0In the end of August of 2014, Tesla completed the formation of a cup with a short handle, and within a few trading sessions, catalysts such as the China Unicom charger deal and Stifel's upgrade of TSLA with a price target of $400 caused the stock to break out and confirm the pattern. A similar cup and short handle has formed today ahead of the Model X reveal. TSLA CEO Elon Musk said in the last quarterly call that Model X configurations will be done in "Early July", which by Tesla time, is actually "Late July".
Tesla is going to have to supercharge after this driveTesla, aka the "stock of 2014" looks like its wild drive might be coming to a temporary end.
As much as I love this company, I see us at a temporary top, and I am looking for a shorting opportunity in the 265-275 zone.
Wave properties since March suggest we are in a corrective ABC flat, and are close to the B "top". Other indicators such as RSI and declining volume are supporting this theory. Since the B wave is (and should a little more) higher then the top of wave 5, this suggests we will have an "irregular flat", meaning wave C should drop lower then wave A. But since this is a powerful company, a safe target to close short would be anywhere near the 190 zone.
Even teslas don't run forever. Let this puppy charge up for a while.
Good luck
