I think one would be hard-pressed to find a financial instrument as chart-compliant as Tesla. It behaves itself beautifully with respect to its Fibonacci retracement levels and major trendlines, and what has transpired over the past couple of weeks illustrates that neatly.
The stock peaked (medium-term) on the last day of September, tagging a descending trendline that commenced at its lifetime high of $414.50 about 35 months ago (!) I suppose this must have been excitement about the 10/10 event. It has lost about 15% since then, and now I believe this is an area of strong support (green tint representing the trio of Fibs in this zone).
Tesla’s Good Behavior
