Tesla’s strength recently has been impressive. These Fibonacci levels still count, however (notice resistance at red arrow for Monday), and I’d say very firm resistance awaits at $220.
Renewed Musk
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
That Fabulous Fib
I haven’t messed around with Fibonacci retracements in weeks, and it occurred to me that, with all the market action over the past month, it was high time to take a look. My jaw just about hit the floor when I went to the /ES chart and applied a simple retracement. Check this out:
Tesla Toldyaso
I’ve been saying for many weeks that, should TSLA break its lowest Fibonacci, there would be nothing but vapor, fumes, and Janet Yellen’s ethical values holding this thing up. In other words, nothing. Don’t be surprised if by Wednesday this thing is at prices no one can believe.
Tesla Fib Failure
Well, there goes the final leg of support. God help them a week from today, when earnings come out after the close.
Fib-Tickler
Here’s an interesting tidbit: the Russell 2000 almost perfectly tagged its Fibonacci sequence on Friday. This is a major resistance level, and if we can break that ascending trendline, the small caps have a real chance of finally ending this insane mega-rally that started last October.
