Precisely like I wrote about yesterday…….
Tesla Support Failure
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Updated Tesla Fibs
I’ve had Fibonacci Retracements drawn on the TSLA chart for literally years. Given the new lifetime highs, I’ve gone ahead and moved the anchor points up accordingly. It’s rather astonishing how, still, these lines have such powerful indicators of support and resistance zones.
Tesla Tumble
Well, it was the picture of a stock that went too far, too fast. I’m not surprised TSLA longs are taking tax-free (for another year) profits today.
All About the Fibs
No Fibbing!
Lest anyone doubt the importance of Fibonacci retracements, take a look how specific the behavior is with relation to these lines this morning on the /ES:
