October 5, 2013

  • Tesla weakness of this week was limited to the up trend line. price continues inside the ascending channel.
  • Price closed below 20 Day SMA for one day and came back to close above it. Sustaining above 20 SMA the up move is likely to continue.
  • Weekly chart is also showing  a similar setup. Trend is yet to exhaust.Price dips towards 5 Week Low EMA is getting bought.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore