timwest
Long

TSLA mimicking the accumulation from IPO to Model-S lift-off

NASDAQ:TSLA   TESLA MTRS INC
5351 9 37
I was looking at TESLA             and noticing how long it needs to consolidate before taking off - now granted - it doesn't have anything driving it to make it take off fundamentally this time like it did last time with Model S sales going great... but I suppose it could be anticipation of Model 3 sales and the July grand opening of the Gigafactory.

Interesting that I lined up the first deep correction off the run up in 2013 with the IPO             in 2010.

And they are right on top of each other here with EXCEPTIONALLY SIMILAR accumulation patterns.

I don't often publish "Mirror" patterns or "Mimick" patterns but I found this to be very interesting and wanted to share it with you.

I included the link below for the "What happens after a new Fed Chairman is elected?" which is also very interesting.

For much more content and insight from me, join me at the chatroom KEY HIDDEN LEVELS which you can find under the Social tab on the righthand border of the charts page. Search for KEY HIDDEN LEVELS and join us. Ivan Labrie and I, among others, point out key levels in a variety of markets that you can use to pinpoint your entries, exits and targets.

If you aren't familiar with my work, review my charts and Ivan Labrie's charts to get an idea of how to define targets, entries and stops.

Cheers,

Tim

12:05PM EST June 13, 2016
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edmunch
5 months ago
Hi Tim!
Everyone's talking about the end of the oil age. With cheap oil prices, would you still support this??
Thanks!
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timwest PRO edmunch
5 months ago
That's a great question: I believe we have to be very open to all possibilities because all of the experts rarely get it right. The forecast for "peak oil production" has been made time and time again, but we seem to keep finding new supplies. Higher prices bring about new supplies too and make finding oil very profitable, which is why we have the oil production now in the US at such high levels. I like the idea of electric cars because we can be more in control of the cost of driving a mile. The Gov't tries to help by making cars have higher fuel efficiency but that has only led to manufacturers lying about their actual MPG's. We get lighter cars, which theoretically are less safe because you have less car surrounding you to protect you in an accident. We have safer roads and less deaths per mile driven now, but that could get a lot better in time with more technology and "cars talking to each other" through bluetooth, wifi or other technology. Airbags have saved a lot of lives while they have added to death toll too. Waze has made driving safer and more efficient. I like that trend. Sorry to ramble around, but I think a lot about car safety and making the world a better place as time goes on. I think cleaner air, less gasoline burning, safer cars (Tesla's are safer since they don't have an engine in them, or an oil tank with combustible gasoline) are the way to a brighter future. So, I see Tesla as leading the way for a better future.
+1 Reply
IsaacKern12
5 months ago
wow... whats a good entry point?
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IsaacKern12
5 months ago
whoops just read the description...
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JoshSmith5a
5 months ago
Great article
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gmmedia PRO
5 months ago
very good article
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2use
a month ago
Would you be able to update this?
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timwest PRO 2use
a month ago
The Model-X has been lackluster and the Model-3 is pretty far into the future. The Gigafactory isn't generating a massive impulse of sales or earnings yet, so the stock needs more time to accumulate.

I view the valuation of $30 billion is "about right" until more meaningful progress is made. Tesla sales are up dramatically and valuation keeps dropping and short-sellers are licking their chops, hoping for TSLA to stumble or announce a bigger capital raise to fund more cap spending to drive higher production rates. It's a vicious world out there and the still nascent trend of electric vehicles needs protection to some degree to continue the market penetration. The "internet" wasn't taxed for well over a decade to help it along and encourage investors to make commitments to long term projects with VERY uncertain outcomes. The price of solar panels keeps falling and the subsidies there are in jeopardy with collapsed Gov't spending capabilities. So, there are many factors driving Tesla at this point and it's going to take awhile longer for it to materialize. I have the sense that batteries will become the big trend in the future and Tesla is well positioned to capitalize on that trend with the Gigafactory and its ability to produce low-priced batteries.
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timwest PRO 2use
a month ago
snapshot
I can't make the old price action "match-up", so the analogy has to "extend-time" or "stretch-out" time to allow it to "fit". I think that is a good explanation for what is going on (see my last reply). Thanks for asking @2use - What I really missed was the semiconductor play on Tesla which has rocketed ahead by 100% in the last year. The way to make money in Tesla is to be creative and find who else benefits. Too bad I missed it.
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