Tesla Downturn Number Three

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I don’t trade TSLA anymore, but I wanted to point out that it seems to have bounced off its resistance trendline for the third time, which may presage much lower prices ahead. Personally I think the Model 3 is going to be an amazing success, but I also think it’s going to hugely cannibalize sales of the thrice-as-expensive Model S. Frankly I think the Model 3 is really underpriced. They could easily charged $20,000 more per unit, which would be pure profit.