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Let's see how high can TSLA go without a break

Let's see how high can TSLA go without a break

Postby Cobra » Mon Feb 03, 2020 5:19 pm

From the technical analysis point of view: After lots of consecutive up, a sudden widest bar plus volume surge usually means exhaustion so in theory a short term top should be near, if not already in today (unlikely though, judging by the fact it closed near the high of the day today so should be still a new high tomorrow at least). Just for fun, I never underestimate how crazy people can be so won’t be surprised if TSLA reaches $2,000 tomorrow. I just would like to see whether TA classic pattern works or not. :mrgreen:
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Re: Let's see how high can TSLA go without a break

Postby Cobra » Mon Feb 03, 2020 6:39 pm

Just read a news (not sure whether it's fake) saying by the year 2024, TSLA would worth $7,000 a share, wow. Maybe I should sell my house and everything to buy TSLA...

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Re: Let's see how high can TSLA go without a break

Postby Cobra » Tue Feb 04, 2020 6:19 pm

Doji, plus even larger volume surge, so it's a sign of distribution: Volume surge, means lots of buy and sell, Doji means no obvious winner, so it means it's a decisive battle, bulls and bears, all hands on deck, and fought hard today, in the end, no winner, therefore the strength were equal today so now 50% chances of reversal from here. I know 50% chances is nothing but before today, bears had far less than 50% chances so it's already a progress.

Anyway, the TA still says a pullback from here. But also TA says, it's very rare a top is of ^ shape, bulls won't give up easily so I won't count on a crash here as bears may have hoped...
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Re: Let's see how high can TSLA go without a break

Postby Cobra » Wed Feb 05, 2020 5:14 pm

Pullback as expected, well, much larger than I thought. Generally, again, generally:

The pullback should be bought somewhere as again ^ sharp top is very rare.

The bear bar was big today so generally should be still a little more on the downside.

Good news is, TA (technical analysis) did work, it was a classic exhaustion pattern. I'm sorry I had a doubt on you for awhile...
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Re: Let's see how high can TSLA go without a break

Postby Cobra » Thu Feb 06, 2020 5:37 pm

Opened low closed high but unfortunately the upper shadow was very long so not a bullish reversal bar therefore hard to say whether the low was in. But at least I was right about more down today and bulls wouldn't give up easily.

So what's the next? As long as no big up tomorrow then bears may still have chances the next week (will explain why if no big up tomorrow. Why not explain now? I need reserve something to say for tomorrow, right?). Let's see.
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Re: Let's see how high can TSLA go without a break

Postby Cobra » Fri Feb 07, 2020 5:48 pm

Very long up shadow plus volume surge so the weekly argues a further pullback.
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