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Symbol : TSLA
LastQuote $231.265 LOW POLE REVERSAL today on 21-Aug-2023
Change +15.775 (+7.32%)
Bid $231.26
Ask $231.29
High $232.12
Low $220.58
Volume 127,040,506
Time (ET) 3:59:08 PM
“De gustibus non est disputandum”
It's a Latin phrase in case you haven't heard it before.
It means “About tastes there is no disputing”
In other words, “There’s no point in telling someone that their taste - their personal preference - is right or wrong”.
The contemporary proverb “There’s no accounting for taste” means the same thing.
If you're having fun in doing that... more power to you.
Cheers and More Fun to you.
When I consider the larger picture for Tesla, my feeling also does not see an extreme low end testing of boundaries like it was several months ago.
Probably this band of $220-200 level more likely before resuming back a gradual rise to $300.00. The charts are only a reflection of the Demand/Supply dynamic. The indicators I follow, change and reverse on short order... That has been happening in the past several months with many stocks in my portfolio.
Anyway, we shall see what will play out next week.
Follow your bliss. "Que, Sera, Sera; Whatever will be, will be. The future is not ours to see.."
I believe in "My health is my wealth". It's only some of my money and it helps make my life more exciting. Either way, risk taking is part of life.
Have a good Weekend & GLTY
Interesting technical view by a good technician on YT:
"TSLA shares hit our last’ target today, the $217 support level, which we've been talking about a lot on this channel. After earnings, TSLA lost all of its major support levels - it lost the 21-EMA, it lost the $250, the $240, and now it's trading around the $217 support area. Now what? Is this a buying opportunity? What to expect next and what do you mean by the last support level? From a technical point of view, that's not possible. Yes, you're right, let me explain. In this video, I'll do my best to answer these and other questions.
What he is saying that the last meaningful support at &217 price level may become a support at this juncture if activated.
I agree that keeping and open mind is important even though there are several signals that are negative. Furthermore, the larger market is bearish and active in corrective adjustments at this time.
"The Market Can Do Anything" covers this possibility.
He is saying that if Tesla is going to reverse direction, this is the support level ($217) where it can change.
Interesting analysis. We shall see what comes next.
Happy Weekend & GLTA
Yes. The breakdown is still ongoing. GLTY & GLTA
rolvram: While we may feel and guess a "bottom", I would avoid getting "fixated" on it.
I checked the chart for a clue and I too "thought" of the $152.37 level/area of price, for example.
However, I need to be guided by the signals coming from my own indicators.
No bottom in the stock market or the indexes can be guessed. They are known only after they happen... looking back.
However, good to be "still sitting on the dry powder" for sure. And, I agree about the potential of Tesla.
Last bottom around the $108 level, I bought at $112.00
We shall see this time. The excitement is building... Timing is everything, lol.
Cheers & GLTY
The Triple Bottom Breakdown that stared on Aug 11, 2023 is in active mode and continuing for Tesla shares. The larger market is in continuing in this corrective mode for excesses indiscriminately.
In checking the charts today I see that several high flying good stock company share prices are indicating breakdowns currently. The process seems to be expanding and it may continue for a while.
While few think a "buy the dip" makes long term sense, imo it is more a question of when to buy given the current larger market circumstances.
The "dipping" process could take some time and lower stock prices even to a lower level.
A timely buy requires patience, knowledge and awareness to make it timely, given this circumstance and opportunity.
Cheers & GLTA
AMD share price Bearish Catapult Breakdown on 17-Aug-2023
Intel share price had a Double Bottom Breakdown on 16-Aug-2023
I bought shares at $36.00 when the signal for a breakout was first given on July 27. That was step 1.
I shall see where this downtrend will lead to, and when another breakout signal is given. GLTA
Market Chatter:
Texas Transportation Commission Approves Plan to Mandate Tesla Technology for EV Chargers
MT Newswires 2:30 PM ET
That is no consolation to many investors who bought Tesla at the higher prices and now they have lost it all. The hype on YT about the future price of Tesla shares has become ugly noise. C'est La Vie.
The market can do anything.
You may get what you want... but you can't get all you want.
In the meantime, process has to go to its own conclusion.
Cheers & GLTY
PS: Market intentions may be accessible to those who follow it closely... for some timely clues.
la-tsla-fan: Not all technicians follow what I follow. I may be one of the many and at times I follow them.
Remember the market can do anything. And, here's one for your info: "TESLA STOCK | Target Hit, Time to Explode?" in posing the question.
I think it may help you some in your options work. But there is no certainty in this business. The future is not known by anybody no matter who they are. The choice is yours anyway. Your bet. your money is your responsibility no matter who you choose to follow.
I tend to be more conservative. Anything may happen of course. Hear from various sources just as another opinion.
My point here happens that even if one assumes we have a reached a good resistance level, assuming a reversal of the trend should not be assumed. The process is more complex and changing.
Just some thoughts.
Since NIO shares price had a Double Bottom Breakdown on 11-Aug-2023 the share price has be in correction mode at this time.
Should this continue in its path, the next price support level may be at $10.21
The larger market is in a continuing correction mode. It has been impacting most stock share prices given the economic data and Fed policies.
We shall see.
Cheers & GLTA
The next likely Tesla share price support level may be at $217.65
We shall see.
GLTA
The Weekly goes into Downtrend as well in sync and confirmation with the Dailies.
The Dailies have been in Downtrend already for the 17th session today.
Tesla share price is now confirmed in its direction in this Downtrend.
Thus it is in short term Downtrend mode. At last confirmed by the Weekly
Question is how long will this last. Where would be the support price level.
Cheers & GLTA
For the last few months I have been seeing an increasing number of driverless cars in my town. Today I heard on the news that the authorities have approved these cars on our roads that are among the worst, anywhere in the world.
Our town is hilly, winding and crooked roads and unkept roads that have worn out surfaces besides pot holes and increasingly patched and uneven. I have extensively travelled in Europe, Middle East, the USA and unfortunately our beautiful city is not maintained adequately good enough and not ready for driverless cars, imo. I am not sure but I think these vehicles are Waymo and the tech used are GM generated. There was a period of few years for testing with drivers, and I used to see them these taxis with no passengers in them for that testing period.
I should say that if they work safer than human operation of cars considering the challenges to overcome, then I'd should think it should be good almost anywhere.
Tesla share price Triple Bottom Breakdown today Friday 11-Aug-2023.
A negative note at the end of the week for Tesla shares.
The larger market is in a process of rebalancing and trimming excesses.
Happy Weekend, GLTA.
PS: I did some cleaning as well here, and the main screen view has gotten better.
This week may be critical as to the Weeklies for Tesla share price direction.
I did not expect that that the Weeklies still was in uptrend when the 12 daily session have been in downtrend mode. May be by the end of this week things become clear as either we will see a quick drop in the dailies. The larger market is in unsettled mode. I see no reason why would Tesla shares not be in for a correction for the short term, as well. High flying popular stocks are not being spared in this tumultuous market and are not faring well. We shall see if clues of direction could come out of the cloud for Tesla shares in the next few trading sessions of this week.
GLTA
What I missed checking on Friday 8/4/2023 was that PLTR share price had a Double Bottom Breakdown.
I happen to be in PLTR for the long term. I don't follow it closely unless I am in the zone of selling or buying any stock.
The contradictory signals were related with ER. This Breakdown is still operational. C'est La Vie. GLTA
Congrats. Good and timely at that price of $16.38.
My average cost happens to be higher than that over the time.
Cheers & GLTY
The chart is looking ok. I've seen that too.
However, I'd watch the next sessions if the Weekly still continue in Uptrend mode.
The Dailies have been in Downtrend for the 12th session, as of today.
Fast Stochastic in the Dailies appears poised to go. But one never knows.
Anything micro or macro that can go sour could impact on the larger market.
We shall see. Not to hurry, imo.
Apparently you did not hear that this morning CFO Zack Kirkhorn stepped down from his role of CFO at Tesla, Inc.. He posted a friendly note.
NKLA share price Bullish signal Reversed on Friday 4-Aug-2023 GLTA
Short term T/A check: Tesla share price Bearish Catapult Breakdown today on 7-Aug-2023.
So far Supply ahead of Demand at this time in today's trading session.
Momentum for TSLA is strongly bearish. The 14-period Slow Stochastic oscillator is below 20, the level which many analysts call oversold. This means that investors have been actively selling shares and driving the price lower.
Today's volume is on track to be heavier than usual, with 76,248,725 shares having traded so far. The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term selling pressure by traders.
PS: hurl or launch (something) in a specified direction with or as if with a catapult.
PS: hurl or launch (something) in a specified direction with or as if with a catapult.
Bollinger Bands® use standard deviation of closing prices around a moving average to measure volatility. Presently, the Bollinger Bands® for TSLA are of a normal width, and signal that volatility has been in-line with the norm for this stock. As of 1:13 PM ET Monday, 08/07/2023
GLTA
Interesting Speculative YT Topic:
"Tesla investor and stock expert Gary Black just revealed something that could send Tesla stock to unbelievable heights.
If you're a Tesla investor, then this is one update you definitely do not want to miss.
Future Fund's Manager Gary Black has raised the prospect of Tesla buying Uber to get into autonomous ride-hailing. According to him, this will give Tesla access to all the data from Uber’s 137 million consumers who take millions of trips per day. "
Monday appears an interesting trading session for Tesla, Inc. shares.
I think what happens in the days trading session would give another clue of what could dominate the short term direction of share price. I find it interesting and exciting this close follow-up just for fun using the market indicators that I have been following without my bias of ownership of Tsla, Inc. shares.
My swing trading has been inactive for the past about 9-12 months.
If share price direction heads in a downtrend, I take that as an opportunity to buy more shares... provided price will go to the level of $240 However, the $220 level is more accommodating and desirable for my circumstance. C'est La Vie.
Cheers & GLTA. Enjoy the Weekend.
PS: The Ignore feature is a convenient tool and even though I like reading intelligent contrarian views I have to watch for the substandard repetitive material in what I see. So far I have only 2 on my list. Thus my screen will get more appealing and respectable on first view because of the removal of clutter and repetitive stuff.
I have to point out that the bullish signal for NIO remains valid regardless of today's session.
A trend change coming from a long period of downtrend like NIO can be likened to a seasonal weather change. The change is not apparent it acts more like it was before.
Though, the market can do anything.
One that happened today was with NKL* Its Bullish signal was reversed to Bearish. The company has financial challenges that are knotty and impacting share price structure issuing new shares to raise needed funds to finance its operational costs.
But NIO stock triggered a major bullish reversal structure that is for the long term , and it is looking amazing.
GLTA
NKLA share price BULLISH SIGNAL REVERSED today on 4-Aug-2023. That's the reality to deal with. GLTA
Not to hurry.
Fyi, my day order to buy under $15 was filled.
It is only step 1
Patience is and CCC approach required in this game, lol.
Cheers & GLTY
It follows the price like a trailing stop. In an Uptrend, it continuously rises, protecting profits as prices increase.
In a Downtrend, it follows prices lower. Thus, it serves to identify and confirm the trend direction and can indicate potential reversal points.
When the Weekly ends supporting the Dailies, it signals that the Uptrend is over.
In our current situation at this point in time, the signal has not been yet activated.
We shall know when it does. Probably soon. In its absence, it is assumed that the main trend is still in operation.
The positive thing that I see at this time is that the Weekly uptrend has not been broken. Though the Dailies have been in downtrend for the last 10 sessions. Interesting day Friday.
The P/V dynamic now reduced to -7.12 point , a -2.67% deficit.
If tomorrow this deficit is closed then the Weekly uptrend should continue.
A rally, preferably a bit stronger than the one we had on Thursday should keep the main uptrend continuing. If not, long term shareholders could have an opportunity to add more shares at lower share prices. This is only a short term situation. No matter what happens we know the Fundamentals are great.
We shall see.
GLTY & GLTA
NIO share price had an ASCENDING TRIPLE TOP BREAKOUT today 3-Aug-2023
I will be buying shares for the first time. In steps/phases. I will be placing a day order probably around $15,
Cheers & GLTA
I can feel your love for NKLA Corporation. Probably you want the shares for long term holding. Then waiting makes more sense.
I have Tesla, Inc. shares that I hold mostly for the long term. And to periodically add more shares by cash and swing trading.
I use max 15% of those shares for swing trading. The main reason is to buy more shares. Have done it at different levels of price converting profits into more shares whenever possible.
How long do you think NKLA share price will keep going up in this initial phase in its uptrend?
One of my rules is to sell a stock when my original investment doubles, in relatively short period of time. NKLA share price is now close to that around $4.00 I could also buy it again guided by T/A signals. It all depends on your plan for the stock of your choice.
This is the second time for corrective action based on T/A signal since price bottom. I wanted to sell today because you can see in the chart the demand volume shrinks because of many sellers. Taking profits is name of the game. That is my rule one and I had my day order placed closer to $4 than the day's high was for today. Why do you think tomorrow will go higher than today? Any clues?
Cheers & GLTY
Thanks for posting this important and informative article.
It helps reminding Tesla shareholders the value and great potential of Tesla, Inc. The future is bright.
Good luck and GOD bless
Interestingly Bill Gates had this same savvy and skill like Elon Musk to use early in his career.
He kept buying any good companies in the market that he needed to build around his vision. He kept adding what kept to build the big Microsoft to make it a Giant in Software. He was no genius but he kept acquiring early stage companies of innovative people to grow his own. Gates was a smart builder of his own company, through smart acquisitions. However, Bill Gates was a business smart man, but no Steve Jobs, the great innovator.
Have a day order to sell. However, it appears too much selling at and above $3.5 level is pretty strong. Whatever, not going to lower my set price.
It is looking good. But,
I am not sure for this short term situation, yet. No worry for the intermediate and long term.
I am encouraged from what I see in the Weeklies still remaining in the uptrend mode, after 10 sessions of Daily trading in downtrend. Will this continue?
I believe this is due to the P/V trading dynamic that is positive. We shall see what follows next. I am optimistic.
Cheers & GLTY
PS: "Today's volume is in-line with the norm for this point in the day, with 72,897,718 shares having traded so far. The On Balance Volume indicator (OBV) shows that longer term accumulation has given way to near term selling pressure by traders."
Right, you got it. Forget what results are and of what standard and quality. Life is special and choices are important for good results. However, each makes up their life up to their abilities and choices. C'est La Vie. Cheers.
I have heard this same song too many times.
Do you have anything different?
Bye now,
Cheers & GLTY