TSLA Update – November 13, 2017 …

TSLA is making its product announcement on Nov 16th about its EV semi-truck.  They are likely to try and leverage that announcement into some type of an equity underwriting as the cash burn of the Model 3 is quite intense right now, and I think it is only going to get worse, so Elon would be smart to take advantage of any positive news to shove a bunch more equity down traders’ throats at these obscene price levels (>$300).

I continue to like TSLA to the short side, and I am looking to add a bearish trading position again over the next several days as price bounces into resistance …

TSLA – Weekly Chart

My bigger target in the medium term is that lower support level on the broadening price pattern at around $240.  Before that next leg lower, we need to find resistance a little higher up to suck in some more of Ron Barron’s money.

TSLA – Daily Chart

The median line at around $323 or the daily ATR resistance at about $330 should be the upper lid on any price bounce this week into that expected equity financing.

Cheers … Leaf_West

TSLA Update – October 25, 2017 …

I last updated TSLA on October 17th (click here) last week.  The firing of the weekly price squeeze looks like it is starting and as I thought, it looks like the squeeze is going to fire to the downside.  That would make it 4 in a row to the downside.  I continue to hold bearish option positions in TSLA.  Here are the charts … Continue reading

HD Update – October 23, 2017 …

HD is acting pretty well today considering the tape is just kind of choppy.  The 15-min and 65-min chart resistance ATR’s have been broken today, so I decided to take a closer look to see if I should be looking to positionally or swing-trade HD here soon.  There next quarterly report is not due until Nov 21st, so maybe we are about to start a ramp into earnings, which often happen in large-cap market darlings.  Here are the charts … Continue reading

AMZN Update – October 19, 2017 …

I wrote an update on AMZN yesterday that raised the possibility of the stock making a possible Wave 2 high of a new possible trend or at best a Wave 2 high of a large sideways consolidation pattern (click here).  The stock is about $13 below where it was when I wrote that blog post and it looks like it is possibly testing a break of the weekly broadening price pattern that I have been tracking for AMZN.

You might say … whoop-t-do, price is breaking some imaginary price pattern!!  I say beware when price breaks price patterns, because it could be the early warning of a change in trend.  Here are the charts … Continue reading

WFC Update – October 3, 2017 …

Here is the bigger broadening pattern that I have been tracking since late 2016 …

WFC – Weekly Chart

The broadening pattern seems to be giving traders good levels to trade against … I think that the median line will act as resistance here.

WFC – Daily Chart

The daily chart shows that price is extended here as we push into that weekly pattern’s median line.

Cheers … Leaf_West

Crude Oil Breaking out of the Broadening Price Pattern …

Crude oil futures are breaking out of their downward broadening price pattern …

Crude Futures – Daily Chart

A 3-wave price pattern is likely based on the recent wave structures …

Energy Producer ETF (XLE) – Weekly Chart

I was trying to get cute on my swing long and re-load on a pull-back and it looks like the next pull-back will be at a higher level. 🙁

Cheers … Leaf_West