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TSLA Still Holding Support but Be Weary of 2 Price Levels



October 02, 2013 – Comments (3) | RELATED TICKERS: TSLA

Two things with Tesla (TSLA) that must be mentioned:

1) HUGE and I mean HUGE support on the 20-day moving average on this stock.

2) A well defined bearish wedge that will be forced to make a move in the ver near future.

$182 will be the first level of support violated, but once $175.90 is violated, it is all down hill from here.

Here's the technical analysis on TSLA

3 Comments – Post Your Own

#1) On October 03, 2013 at 9:15 AM, lemoneater (59.13) wrote:

I think you meant to say "wary" related to "beware" in meaning. People who correct what one says are very annoying :). So let me add that I read your blogs although our favorite tools are different. TA is not my strength, but it is invaluable for seeing how the market feels about a stock in a slice of time.

I'm cautious over all about Tesla with a wait and see philosophy. I wonder how far the stock would have to drop before it would be in value territory, but that would be boring! TSLA's very volatility provides interest and opportunity for technical traders.

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#2) On October 03, 2013 at 1:07 PM, ikkyu2 (98.47) wrote:

What, you don't think TSLA is worth a third of what Ford Motor Company is worth?  


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#3) On October 03, 2013 at 2:34 PM, lemoneater (59.13) wrote:

Somehow I think Ford reaches a wider market at this point. For instance South Carolina the car loving state where I live doesn't even have a Tesla dealer yet. Is it a lost opportunity or lack of demand? Time will tell.

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