Tesla’s Terrible Trendline

It has been no secret that Tesla, which was heralded as the greatest stock in the universe until 2021 (and which I highlighted as a long position in 2012 before anyone else was talking about it) nas become a total dog. The Magnificent Seven is now merely Six, and the relative strength of TSLA versus the QQQ makes its demise as plain as day.

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Just to hit on something I’ve mentioned multiple times already, the broken trendline for TSLA, which dates back almost five YEARS, is a big deal. I believe this broken line, coupled with the mass of overhead supply (tinted) and the Fibonacci retracement levels are going to act as ironclad walls to TSLA price ascent for at least a year, and perhaps more.

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I love their cars, and always have, but TSLA is a broken chart.

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I tilt to the bearish side. Slope of Hope is not, and has never been, a provider of investment advice. So I take absolutely no responsibility for the losses – – or any credit ...

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