That Tesla Trendline

By Tim Knight of Slope Of Hope

Managing Partner at Tim Knight Organization • Oct 2, 2024 at 4:23 PM EDT

As powerful as Tesla’s rally has been, there were four distinct “barriers” TSLA was facing. Three of them were Fibonacci retracement levels, and one was a long-term trendline.

Cars Parked In Front Of Company Building

Image Source: Pexels

As powerful as Tesla’s rally has been, there were four distinct “barriers” TSLA was facing. Three of them were Fibonacci retracement levels, and one was a long-term trendline. Earlier this week, it poked its head above all of these briefly, but today it finally succumbed.

The trendline continues to hold sway. The big question is whether next week’s Robotaxi announcement, on the 10th of October, finally lets TSLA escape this trap.

(Click on image to enlarge)

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