Ricks Picks

TSLA – Tesla Motors (Last:285.86)

EST

Having narrowly missed a longstanding downside target at 251.28 at the low of its most recent swoon, TSLA would trip a ‘counterintuitive’ buy signal if it hits the green line at 286.19. That would make p=317.91 our minimum upside target, with a shot at 381.36 if Tesla’s peerless hype machine turns news temporarily in the firm’s favor. Not bad for a company with enough problems to make a bankruptcy scenario seem at least plausible. Whatever the case against Tesla, its compromised delivery system and its apparent decline in quality control, these factors could soon take a back seat to the shenanigans and spin control that have always moved the stock, often wildly. _____ UPDATE (Apr 2, 4:10 p.m.): The stock has touched 286.19, putting a midpoint Hidden Pivot resistance at 317.91 in play as a minimum upside target.  It would become an odds-on bet to be reached if TSLA can exceed a 295.39 ‘external’ peak recorded on March 14. _______ UPDATE (APR 4, 11:07 a.m.): Today’s plunge on news that Q1 deliveries of Model 3 fell well shy of expectations has hit $260, a $61 loss. The bullish ‘CI’ trade noted above, however, with a minimum target of 317.91, will remain in effect until such time as 254.46 is exceeded to the downside. This will be a good test of whether the sleazebags who manipulate this stock for a living are clever enough and strong enough to turn this morning’s air pocket into an accumulation opportunity. In the meantime, we should presume that the stock’s low near $260 occurred simply because the aforementioned sleazebags felt quite comfortable buying there.

Comments on this entry are closed.

Vincent Murphy April 4, 2019, 2:44 pm

whats the LOW on this sucker before a bounce then this thing should see 100’s you agree? Shorted this at 375.00 to 290.00 a while back



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