jangseohee

TSLA, dragged down by Model X

NASDAQ:TSLA   TESLA INC
219 4 3
The much anticipated Model X from Tesla             from investor has time and again resulted in disappointment as the official launch has been postponed umpteen times.
Audi's Model S could be a party spoiler if it comes before Tesla's model X.
On end-Sept both uptrendline from Mar & May 2013             were broken convincingly. Price did crawl its way back to retest the undercut on 10 Oct             but was rejected outright.
For the moment i thought i see a potential H&S topping which is about to complete should the price touch the neckline tonight.

I foresee the price movement as:
Path 1: price break the neckline in next few trading days all the way down to support, retest and fail at neckline.
Path 2: price flirting a false breakdown but break right back and continue consolidating in purple triangle until
1Q 2015 earning
MACD and RSI divergence on weekly chart is noticeable albit a bit slow to appear.

Head & Shoulder pattern don't always play out even if it breaks the neckline. Volume hasn't pick up on the downside move signal majority are not ready to jump ship yet.

I don't think it will roll over that easy, it will frustrate both bulls and bears looking for short-term profit. Be careful when playing...
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jangseohee AlphaxRx
Yes Sir, anything is possible, i will take your advice
another examples of fail H&S
Capitalized on Failed H&S, 10-20% success rate
Reply
jangseohee AlphaxRx
It broke the neckline hard & convincingly
Let's see short-term downtrend channel bottom can provide support
MACD showing some warning of bullish divergence though
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AlphaxRx jangseohee
Good follow through last two days. It's worth a try.
+1 Reply
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