Wow. Well what happened to that 180 wall of support then? Doesn't TA rely on people to believe in TA in order for it to work? I mean what good is resistance at 180 if no one has buy orders with a 180 limit?
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TSLA Technical Analysis
- Thread starter Robert.Boston
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- elon is an ass TSLA
Wow. Well what happened to that 180 wall of support then? Doesn't TA rely on people to believe in TA in order for it to work? I mean what good is resistance at 180 if no one has buy orders with a 180 limit?
Sudre
Active Member
TMS
Member
Hi sunny-value,
180 is a general round number area for support/resistance, a more precise number is what user @dmunjal mentioned earlier which is according to "The Chart Guy": is 178.53. We have already visited this number yesterday, and went even slightly lower (a common method to shake weak hands). By the end of trading session, the share price closed just above 178.53 at exactly 178.97. So if profit taking is on the cards today, we should at least see a small rebound.
Use this information at your own risk! This is NOT a trading recommendation, it is just what I see on the charts, and I might be totally wrong!
Sudre
Active Member
This is also a good time to remind some that TA is a tool for looking at probabilities. Just like Elon saying over and over again there is no demand problem. If what Elon says is true then the fundamentals should be excellent but yet the price is also dropping. All tools are on the table for those that know how to position themselves inside the probability risk. TA is one.
I don’t want to get on that debate.
If TA and fundamental in a company both suck I’ll not buy, heck probably sell all positions.
If TA is great but fundamentals aren’t looking good I’ll buy trading shares.
If TA looks bad but fundamentals are great I’ll add to a long position
If both are good I’ll buy trading shares and add to my long position.
If you are simply a long term investor then TA really has no use in your world.... IMO.
I don’t want to get on that debate.
If TA and fundamental in a company both suck I’ll not buy, heck probably sell all positions.
If TA is great but fundamentals aren’t looking good I’ll buy trading shares.
If TA looks bad but fundamentals are great I’ll add to a long position
If both are good I’ll buy trading shares and add to my long position.
If you are simply a long term investor then TA really has no use in your world.... IMO.
TMS
Member
Currently forming a nice hammer on the weekly chart.
bdy0627
Active Member
Antares Nebula
Active Member
I don't know... One week of holding above 210 does not equal solid support. Support currently is ~180. Though it may not hit that level again, one should be prepared in case.
Stars aligned
Member
Technical analyst Tim Ord was my regular guest on our TV show. This is what he wrote after yesterday's market close regarding his position initiations for the S&P 500 (SPX).
For monitoring purposes: Long Term long SPX on 6-26-19 at 2913.78.
This goes along with our intermediate term SPX long position yesterday.
All the Best,
Tim Ord
Ord Oracle - Home
For monitoring purposes: Long Term long SPX on 6-26-19 at 2913.78.
This goes along with our intermediate term SPX long position yesterday.
All the Best,
Tim Ord
Ord Oracle - Home
Stars aligned
Member
Is this already the white in the eyes of the enemies? 
Any folks on here see significance to a close above the 50 MA? Hasn't happened since February 28th..
bdy0627
Active Member
Definitely, but I think it needs to be convincing and sustained, so we need to see the follow through for confirmation.
Stars aligned
Member
Breakout from symmetrical triangle comes next week. Will be interesting and Friday's after hour action is an indication of what to expect, imo.
Stars aligned
Member
Absolutely. 50 MA is close to the upper end of the trend channel which started around Christmas. There's a good example of what could be expected on thepatternsite.com, symmetrical triangles, imo.
Not an advice.
ZachF
Active Member
True historic footage of Mark B. Spiegel logging in and checking the TSLA price action today, colorized:
TSLA is now finally above the downtrend line that started in December:
Stars aligned
Member
There must be more volume at some point, maybe after production/delivery numbers are out. This is still overture, imo.TSLA is now finally above the downtrend line that started in December:
Stars aligned
Member
Charts look constructive, consolidation / continuation patterns.... hopefully confirmed by good P&D numbers today or tomorrow
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