Not my analysis but I happen to agree, he is usually pretty good... taken from verifiedinvesting.com:
Tesla Motors Inc (NASDAQ:TSLA) has ripped higher in the last month, surging from $141.00 to almost $205.00. This is an epic 44% jump. While many investors are getting excited about the recent move, buyers should be scared. Tesla jumped into a major former pivot low from October 2015 and has also made a .618 Fibonacci retrace. Considering this move came with no pullbacks, it is likely a pullback will occur in the coming weeks. Downside to $170.00 is likely, a pullback of 17%. Note the chart below.
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Gareth Soloway
Chief Market Strategist
InTheMoneyStocks
Tesla Motors Inc (NASDAQ:TSLA) has ripped higher in the last month, surging from $141.00 to almost $205.00. This is an epic 44% jump. While many investors are getting excited about the recent move, buyers should be scared. Tesla jumped into a major former pivot low from October 2015 and has also made a .618 Fibonacci retrace. Considering this move came with no pullbacks, it is likely a pullback will occur in the coming weeks. Downside to $170.00 is likely, a pullback of 17%. Note the chart below.
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Gareth Soloway
Chief Market Strategist
InTheMoneyStocks
Tesla Will Drop hard...
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