TSLA has behaved well but is stalled below this year's anchor point and a declining 200-day moving average; its last two pullbacks held the anchor point from this year's low. Its range is narrowing, and further contraction is expected before its next big move, over weeks rather than immediately.
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Have you ever seen a scenario—and I’m putting you under pressure for a moment, but you can leave right away—where there is speculation that SpaceX would buy Tesla? And would you suspect that there is some kind of strategy and hedging between the two?
Um, do you think that could cloud things , because it would be such a major potential event that it could make trading both stocks very unpredictable if they keep stoking the fire that they might merge?
I actually have the feeling that those two stocks have become a lot less attractive since then.
Yes, I think that is probably the case, Neil, but honestly, that is beyond me. Okay . I only look at graphs. But you know, if you look at Tesla, it has really behaved well. It has stalled below this year's anchor point and the declining 200-day moving average.
And the last two pullbacks came out perfectly at the anchor point from the lowest point of this year. So we see the bandwidth here getting a bit smaller , which could mean, you know, not immediately, but in a few weeks, I mean, with SpaceX, who knows?
Maybe something big will happen to Tesla today. But I expect Tesla to reduce the range even further before taking the next big step.
What this channel has said about $TSLA
Brian Shannon has 4 calls on this stock; only the adjacent ones are shown.