• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 15 minutes WTI @ 67.50, charts show $62.50 next
  • 14 hours The EU Loses The Principles On Which It Was Built
  • 6 hours Starvation, horror in Venezuela
  • 9 hours Why hydrogen economics does not work
  • 7 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 6 hours Tesla Faces 3 Lawsuits Over “Funding Secured” Tweet
  • 2 hours Mike Shellman's musings on "Cartoon of the Week"
  • 19 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 day Chinese EV Startup Nio Files for $1.8 billion IPO
  • 7 hours Saudi Fund Wants to Take Tesla Private?
  • 23 hours Crude Price going to $62.50
  • 2 hours California Solar Mandate Based on False Facts
  • 2 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 18 hours Saudi Arabia Cuts Diplomatic Ties with Canada
Alt Text

Are The Saudis Involved In The Tesla Buyout Plan?

Saudi Arabia’s Public Investment Fund…

Alt Text

The One Oil Industry That Isn’t Under Threat

While plastic has been the…

Alt Text

Can China Afford To Slap Tariffs On U.S. Oil?

China’s latest round of tariffs…

Martin Tillier

Martin Tillier

More Info

Trending Discussions

Is Tesla About to Collapse?

Tesla

As I have pointed out here in the past, being negative on Tesla (TSLA) is usually not a good idea. The problems that the company faces are fairly obvious, but Elon Musk seems to have an almost magical ability to make them irrelevant. Nearly thirty percent of Tesla shares are currently held short, and when the news came this week that the company was once again looking like missing production targets those shorts must have been licking their lips, expecting a massive drop in the stock. As usual to this point they were disappointed, but the news behind the headlines suggests that they may soon get what they have been looking for.

(Click to enlarge)

For now though, what we saw was what is shown on the above chart. TSLA dropped, for sure, but over a couple of days only lost what it gained the day before the news broke. Once again, it showed the kind of resilience that has led me to refer to it as “Teflon Tesla”.

That resilience comes from the peculiar nature of Tesla. It is a company built on hope and vision, it is a haven for believers in alternative energy and tech, it is, in short, as much an ideology as a corporation. That leads to committed investors who see every bit of weakness, even when that weakness is for good reason, as a buying opportunity. That produces the kind of chart that you see above, where the stock becomes a range trader’s dream, frequently bouncing off clear support and resistance levels. As a frequent range trader…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News