K Wave & slupert, I don't directly own TSLA, so I don't regularly look at its chart, but I should cause it's a real doozy. That's one heck of a head and shoulders pattern, and the gap fill just below is also beckoning. According to bigcharts.com the PE is almost 75 times current earnings, and every mother's son of a carmaker is building EV vehicles to complete with it, so why the big PE premium? With the neckline now broken, it sure looks like the first stop on the down escalator is somewhere in the 80 to 100 range.
Regards,
Douglas
Yup, almost no one believed me when on that day last April, pre-split when Tesla announced fantastic earnings at about 1100 pre-split, when I said it was headed for at least the 400s, or about 150 area post split...I think they literally thought I was crazy.
And yet here we are now, in easy striking distance, with the stock looking like it may be JUST STARTING its long term breakdown, and that Daily 900 target is pullin' hard now with its magnetic attractor beam. And if things start to get ugly, it might go right on through like some of the other high flier bubble stocks before it.
Ye have been warned...this is NOT the last 40 years action...and most have not wrapped their heads around that concept yet....
Edited by K Wave, 16 October 2022 - 08:31 AM.
