TSLA
Potential head and shoulder pattern forming on 1-hour time frame. Let's see how it plays out.
Comment:
The pattern is developing further into:
1. Head and shoulder pattern; or
2. Double top
- $925 - $935 range is acting as resistance.
- The retail crowd may pour in near/after the stock split. At the point in time, yes .. this may rally. In my opinion, it is incorrect to assume that the rally will be similar to 2020 split because:
1. Monetary policies are different. Fed officials, except Clown Powell, are coming out saying that they are not done with raising rate.
2. Almost every major economy has started to experience "slow down in growth". Not a recession, but "slow down in growth" (i thought that's how a recession starts - i.e. Growth starts to get hit first when economy is about to go tits up - but, what do I know.)
3. Inflation is running high, and it's supply side driven. How can you produce more when every plant is running at max capacity.
4. Russia - Ukraine issue.
Bottom line - I could be horribly wrong. I have been wrong before and if I am wrong I will pay the price. I could be exceptionally right too, and if i am right, I'm gonna get the reward.
P/S - If you are a tesla bull, and want to comment how wrong I am, feel free to do so. it's a free world and express your opinion.
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1. Head and shoulder pattern; or
2. Double top
- $925 - $935 range is acting as resistance.
- The retail crowd may pour in near/after the stock split. At the point in time, yes .. this may rally. In my opinion, it is incorrect to assume that the rally will be similar to 2020 split because:
1. Monetary policies are different. Fed officials, except Clown Powell, are coming out saying that they are not done with raising rate.
2. Almost every major economy has started to experience "slow down in growth". Not a recession, but "slow down in growth" (i thought that's how a recession starts - i.e. Growth starts to get hit first when economy is about to go tits up - but, what do I know.)
3. Inflation is running high, and it's supply side driven. How can you produce more when every plant is running at max capacity.
4. Russia - Ukraine issue.
Bottom line - I could be horribly wrong. I have been wrong before and if I am wrong I will pay the price. I could be exceptionally right too, and if i am right, I'm gonna get the reward.
P/S - If you are a tesla bull, and want to comment how wrong I am, feel free to do so. it's a free world and express your opinion.