Tesla – Technical Top in Price, Pattern, and Time

February 16, 2017 · Posted in Daily Charts, Patterns and Formations 

The follow-through price action in Thursday’s session has confirmed the Tesla TSLA blow-off top scenario outlined in my TheStreet.com article on Wednesday and produced another bearish candle pattern. An eveningstar-like reversal pattern has formed on the daily chart, one with two center doji stars, at long term resistance and at a cycle high point in time. There‚Äôs nearby gap support in the $267.00 to $263.00 area, but if this topping pattern plays out the way previous cycle highs have, the stock is headed much lower.

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