That Tesla Trendline

By Tim Knight of Slope Of Hope

Wednesday, October 2, 2024 4:23 PM EST

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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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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