TSLA has had five previous reversals when it hits the 260 level. And a Head & Shoulders is forming in the Weekly chart, which could potentially drive the stock to 140.
Technically speaking it is still with a fading positive momentum, but with very strong divergences, i.e. HH on the chart, but LL on the momentum indicator.
In the fundamentals there are good and bad news ...
The good news are, the total revenue has been increasing quarter after quarter and the PS Ratio has made it an attractive stock at 180.
The bad news are the margin and income after taxes are constantly decreasing quarter after quarter, and the long term debt increasing, so financially those are not good signs for Tesla at all. The announcement of the retirement of the CFO was a message that said the financial aspect of the company is not exactly the most healthy and a change of leadership in that head was necessary.
There was some inside selling one month ago at around 245 which I don't consider an alarming sign, but I will keep an eye on this. A low volume with higher prices means there is no new money coming in this stock, just short term trading.
This stock is dangling at this level. If it goes higher without supporting sales and a reversal of the after tax profit numbers this is not going to end well.
Technically speaking it is still with a fading positive momentum, but with very strong divergences, i.e. HH on the chart, but LL on the momentum indicator.
In the fundamentals there are good and bad news ...
The good news are, the total revenue has been increasing quarter after quarter and the PS Ratio has made it an attractive stock at 180.
The bad news are the margin and income after taxes are constantly decreasing quarter after quarter, and the long term debt increasing, so financially those are not good signs for Tesla at all. The announcement of the retirement of the CFO was a message that said the financial aspect of the company is not exactly the most healthy and a change of leadership in that head was necessary.
There was some inside selling one month ago at around 245 which I don't consider an alarming sign, but I will keep an eye on this. A low volume with higher prices means there is no new money coming in this stock, just short term trading.
This stock is dangling at this level. If it goes higher without supporting sales and a reversal of the after tax profit numbers this is not going to end well.
