As I suspected, the trio of Fibonacci resistance levels has been doing a yeoman’s job of holding back Tesla’s (TSLA) price from any more ascendency. You can see how well the Fibs have been doing as support (green tint) and resistance (magenta tint). I’d say we’re in for another lazy trek lower in the weeks ahead.
Here’s the longer-term chart. As in years past, I think Tesla is in for a long slog of consolidation before it attempts another blast to lifetime highs.
(Click on image to enlarge)
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