TESLA - will the price action Salas or fail? by DanV on TradingView.com
6 November 2014
TESLA - will the price action Salas or fail? Will it need serious recharge that could take a long time for its supporters.
There are so many fundamental metrics, that could be unique for TESLA or may be not. However, price action if like all others. It has so far WOW the investors and admirers since it's IPO and more specifically since August 2012.
Considering that a broader market could be in a topping process, it seems TESLA price action has definitely got exhausted and Salsa could turn into serious wobble and perhaps outright collapse.
From chart perspective, a larger cycle appears to have completed and is now in an early stage major retracement. This could easily lead to 50% hair cut to may be even dropping to $40 range.
Might sound ridiculous, but that is what happened and some to many such new wonder stocks in 2000 market top that lead NSDAQ to drop by more than 80% of its all time high.
Time will tell. In the meantime, make sure that you do your own analysis and selected to follow me and the chart for any new ideas and updates. If you like the analysis then do share it with others.
Feel free to post your alternative analysis, would add to the experience.
Thanks for taking a look.