Emsticoins
Short

Tesla is DOOMED. At least for now.

NASDAQ:TSLA   TESLA INC
Hey guys, it’s time to look at a stock that has been collapsing and will keep in free fall for a long while.

TESLA . I’m sad for this car manufacturer but it’s happening and nothing can stop it.

The reasons why Tesla’s stock is falling and the company is in major danger is this.

Beyond technical analysis ;

1- Completely burned through close to 10 billion dollars since 2012
2- It holds more 10 billion dollars in debt
3- Tesla is not a profitable company
4- Faces huge competition from the likes of BMW and Audi. Huge ever existing companies
5- Low demand for electric cars
6- Stock extremely over-valued and overbought ( Elliot wave 5)
7- Musk losing his position

Yes, it looks terrible for Tesla .

And if you want to see how terrible things are: Tesla cuts Model 3 price to 35k$ and moves to online sales. Sounds desperate, right?

Do I add fuel to the flame? Tesla owners protested over price cuts.

Pfft...


Let’s look at charts now.

The daily horizon

If you look at the trend line and the yellow line, you can see that the price tested both way too many times already. Both were tested 3 times and failed to break below. However, the price just recently fell below the trend line on the 4th attempt. Same goes to the yellow line. It will follow below it too.

Technical analysis says:
"The more often a trendline is tested, the more likely it is that it will break it”.

The likely target is the major support at the 180$ price range. It will be interesting to see what will happen when price reaches the 160-180 area.
Will it ultimately fall to the 140-160 range or will it slowly bounce back upwards?

See you in the next one guys!
Please hit the thumbs-up button and follow xD

Peace.
RIP weekly bottom shorter.
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And you're not afraid of another unreasonable pullback like 319 few weeks ago? got squeezed on that oen
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