11Feb2:44 pmEST
A Look at Tesla Motors Before Earnings
TSLA is set to report earnings today after the closing bell. We know the marquee issue had shown signs of being a rare "super stock" in 2013, before a long corrective period ensued.
While I believe that the singular event of an earnings report itself can often trump the technicals of a given chart, it is peculiar to see the stock sitting at the "neckline" of a slightly cockeyed, potential weekly chart head and shoulders topping formation.
Perhaps even more than other premier issues in the Nasdaq which have already reported and seen sizable gaps either way, I suspect that TSLA is an even more important reaction to watch tonight and tomorrow given the location of the chart at the present moment.
A gap down likely confirms the major topping pattern and may very well negate the job AAPL is doing at piggybacking the QQQ higher, while a gap higher would not only negate this bearish pattern but also add credence to the bull case for another leg higher in the broad market.