Tuesday, October 29, 2013

Chartology: Tesla Breaks Down

Following up on last Wednesday's "Chartology: Tesla's Head and Shoulders Formation (TSLA)".
$156.52 down $6.34.
From iBank Coin:
With earnings early next month, Tesla continues to weaken as a momentum leader in today’s tape.
The 30-minute chart, below, indicates a breached falling channel. $158 is likely the first level bulls need to recapture.

Overall, though, as I noted in my video market recap yesterday Tesla has the type of action you seen when monster stocks finally decide to have that violent correction, even if it does eventually lead to a great buying opportunity.

What are you trading this morning? Throw some tickers my way.
please click on image to enlarge