06Apr11:09 amEST

Still the Prey, Not the Hunter

Tesla Motors (TSLA) is up sharply along with the market this morning on reports of strong first quarter vehicle sales. 

For a while now, the stock has been technically weak. And that remains the case even with this morning's short squeeze. 

As to the issue of where we go from here, note the daily chart for TSLA, below, showing price now back to the 50-day moving average and upper Bollinger Band, indicative of short-term overbought conditions. Considering we have still have long-term daily chart moving average well above price and declining, I expect the to be a difficult level for TSLA this week. 

Until Tesla makes a major higher swing low on a  weekly closing basis, it is still the prey, not the hunter it once was. Specifically, closes over $220 and $230 would help awaken the electric hunter. 

Taking Advantage of Turbulen... A Sultry Move in Gold; Chess...


This website is intended for educational purposes only. | © 2022 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site