TESLA Weekly

This stock has been showing so much promise but there seems to be no impact on its ability to head higher . The last few weeks it has been attempting to tread to a new high only to meet with supplies. AFter forming a Type 2 negative divergence the prices are swiftly heading lower. Now with the breach of the support trendline we could be looking at some selling interest stepping into the counter. One should look to sell this counter in the coming days.
Comment: Tesla motors reported its biggest-ever quarterly loss on Wednesday (1/11/2017) as the company has spent more to increase the production of Tesla Model 3 sedan. Elon Musk is still struggling to overcome production issues but still considers the Model 3 as key to the company's long-term profitability.
Charts had already indicated way back in Spetember when I had posted some troubled times. The closing of 321 seen yesterday could now witness a gap down today. TA is always ahead of the news. :)


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