• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 4 mins KSA taking Missiles from ?
  • 1 min How to Create a Pandemic
  • 6 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 1 min A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 4 hours Trump eyes massive expulsion of suspected Chinese spies
  • 12 hours >>The falling of the Persian Gulf oil empires is near <<
  • 9 hours Where's the storage?
  • 6 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 3 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 6 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 5 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 11 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off

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…




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