This TSLA chart was posted on Jun 1 and this is how it looks now. Consider it a roadmap for the next several years.
As very much expected (if you read my posts in the previous days), $TSLA completed a very nasty bearish formation. It ended the week by closing the third weekly gap with a red candle. In candlespeak it means that the stock is very likely to continue downwards to possibly close all three weekly gaps.
This is the daily and the weekly charts.
When we combine the candle signals with the long term channel boundaries, we could see that the possible target area for such move would be between $900 and $750. A decline could be a very sharp – a week or two, or a painful, lasting several months one
From the EW perspective, the Fib ratios and the beginning of the wave down suggest that this could be wave C of IV (green counts).
As you can read in the Quarterly Analysis (link below), the candles apparently knew about the upcoming insiders’ sales long ago.
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