Trading Roundup: The Revolutionising Tesla
Too Good... and True
Elon Musk is an extraordinary businessman, engineer, and inventor who manages to create incredible buzz and excitement in the industry. The Tesla Roadster, fastest car ever produced, shook the automotive world earlier this month with its never-before-seen specs and performance.
It's the first all-electric supercar to break virtually every record… and still fit seating for four. 0 to 100 km/h in 1.9 seconds? That's exactly how fast the Tesla Roadster can accelerate.
As if that wasn't enough, it will be made to "fly short hops" as teased by Mr Musk himself on Twitter. Elon has once again proved he's a little bit too much into "rocket science".
Tesla, Inc. in Overview
Tesla Motors, Inc. (#TSLA) has well seen pullbacks on the market this year, but its stock still remains up 44% year-to-date.
Why?
The corporation is able to think out-of-the-box, not only introducing groundbreaking updates, but also landing powerful customers with a bunch of attractive offers, the most recent being DHL and Fortigo Freight Service. The combination of the two aspects, in turn, promises Tesla investors bigger profits in the long run.
Tesla is undeniably creating the industry, which strengthens its potential to conquer more new heights in the future. According to different sources, the corporation's stocks are now stabilising in the light of current events, and Tesla shares are expected to rise to cover for some of the past losses.
Analysing Tesla Share CFD
Source: #TSLA, daily chart, Admiral Markets MT4 platform, Oct 2016-Nov 2017
#TSLA is currently consolidating within the daily rectangle pattern between M L3 and M L4 (monthly) Camarilla pivots 304.22-316.96. The consolidation happened precisely after the trendline broke to the downside, following the bearish SHS (Head-and-Shoulders) pattern.
We then have two possible scenarios. The first scenario is that the stock price retraces to the POC zone (Q L3, EMA89, M H3, 50.0) 329.83-341.10 and then rejects towards the M L4 pivot point 304.22.
The second scenario is that the stock breaks 304.22. If that happens, the next target could be the zone 288.27-281.43. 281.43 is the monthly L5 level, and it acts as a strong support for the stock, which means we might see new buyers within this price zone.
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See you next week!
Cheers and safe trading,
Olga & Nenad
