Watching TESLA's Trend Channel
TSLA Here is my working hypothesis for TSLA from only what the technicals are presenting.
This stock has a very dedicated and ever-growing retail base that has more of a buy-and-hold view rather than trading typical price action. What's making the difference for me is that TESLA share holders are also buyers and believers in the company. They love their tesla products much like apple consumers love their devices and "ecosystem" which they can live in. This holds in an incredible amount of value not plotted by traditional charts or technical analysis. The class of these individuals are also considerably higher than that of traditional consumers who buy and hold stocks they know but don't have any attachment too. It will be interesting to see how this plays out but I believe that institutional investors would already be keen to this theory and already profiting from it nicely.
In the bullish scenario here, I would be targeting the upper trend channel that's newly developed from our recent breakout.
Good luck and enjoy the markets.
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