TSLA run up too high for now
Short term simple analysis, TSLA has reached it's top channel with both RSI and MACD reaching it's high. The last descending triangle gave the stock a pop, but will need to come back down to the lower channel to consolidate.
Consolidation price level estimate: $1760.
The lower consolidation will last between 20 to 30 days. Once it forms a descending triangle pattern, buy again for another run up. This timing of the pop can correlate to battery day on Sept 22, 2020.
I personally believe that Elon will announce a new Silcon nano wire technology which will increase their new battery's density. The 2020 annual TSLA stock holder battery website shows a electron microscope's background of the nano wire. The company that pioneered this product is Amprius which I am going to assume an announcement of either a partnership or buy out just like Maxwell Tech. Amprius' headquarters is right next to the new TX Giga Facility. Very interesting things to come.
Consolidation price level estimate: $1760.
The lower consolidation will last between 20 to 30 days. Once it forms a descending triangle pattern, buy again for another run up. This timing of the pop can correlate to battery day on Sept 22, 2020.
I personally believe that Elon will announce a new Silcon nano wire technology which will increase their new battery's density. The 2020 annual TSLA stock holder battery website shows a electron microscope's background of the nano wire. The company that pioneered this product is Amprius which I am going to assume an announcement of either a partnership or buy out just like Maxwell Tech. Amprius' headquarters is right next to the new TX Giga Facility. Very interesting things to come.
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