Tesla Motors is , in our opinion, a tech company vs a manufactoribg company. We believe this explains its' parabolic rise in price. Others may strongly disagree.
Regardless of how much one may be sympathetic to the concept, we see nothing from a fundamental standpoint to support the current or previous valuation. Others may strongly disagree. Be that as it it may, fundamentals have never gotten in the way of stock price when the market wants to pump or dump.
From a purely technical standpoint, we see nothing more than a normal pullback after a parabolic move up. Typical. We would like to see a pullback to the prior lows, but that may be wishful thinking. Still. never say never.
It is interesting that the 1st target of the current short is close to the price level of the low mentioned.
Either way you lean, you have the targets for the direction you prefer. Keep in mind this is the LT Swing Short and an Intermediate Swing Long being shown.
Regardless of how much one may be sympathetic to the concept, we see nothing from a fundamental standpoint to support the current or previous valuation. Others may strongly disagree. Be that as it it may, fundamentals have never gotten in the way of stock price when the market wants to pump or dump.
From a purely technical standpoint, we see nothing more than a normal pullback after a parabolic move up. Typical. We would like to see a pullback to the prior lows, but that may be wishful thinking. Still. never say never.
It is interesting that the 1st target of the current short is close to the price level of the low mentioned.
Either way you lean, you have the targets for the direction you prefer. Keep in mind this is the LT Swing Short and an Intermediate Swing Long being shown.
