Tesla had a nice run, but the quick money has been taken.
The 25 day EMA was the most accurate support indicator. It trailed the rise and only dropped below it once, bouncing right back over it. Since the beginning of October this support has failed.
The gaps are interesting, indicated by the 2 skinny dashed lines and 1 fat dashed red line.
158.51 is notable because that is the low before the last significant run. An uptrend shouldn't have a lower low.
The declining resistance line is just to show when the next trend will start. It may be up or consolidation sideways.
153 is support from the hammer which is probably the most important level right now. A close below this will confirm this new bearish trend.
Earnings 11/5/13
I will keep watch.
HAPPY TRADING!
The 25 day EMA was the most accurate support indicator. It trailed the rise and only dropped below it once, bouncing right back over it. Since the beginning of October this support has failed.
The gaps are interesting, indicated by the 2 skinny dashed lines and 1 fat dashed red line.
158.51 is notable because that is the low before the last significant run. An uptrend shouldn't have a lower low.
The declining resistance line is just to show when the next trend will start. It may be up or consolidation sideways.
153 is support from the hammer which is probably the most important level right now. A close below this will confirm this new bearish trend.
Earnings 11/5/13
I will keep watch.
HAPPY TRADING!