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$TSLA is leaving the fast lane #stocks #trendfollowing #technicalanalysis #markets
December 10, 2014
Tesla ($TSLA) daily
- Bearish: Since September top, three lower highs and three lower lows.
- Ichimoku cloud inflections (A) are reliable indications for upcoming stronger trends.
- ‘A’ was visible already in “A'”; enough time to exit a delayed long trade or to initiate a short.
- haOscillator is negative and weak.
Tesla ($TSLA) weekly
- Bearish: Head-and-Shoulders during 2014.
- Neckline (support) was broken.
- Estimated price target based on H&S pattern? 235 – (287 – 205) = 153
Tesla ($TSLA) monthly
- The red arrow points to a failure to cross above 50 – a bearish indication.