“The Market’s Most Important Growth Stocks: Dave’s Dirty Dozen”
TSLA is in a long-term downtrend/distribution phase; current recovery is a tactical freeze lacking upward momentum.
Tesla is somewhat similar to, umm, which one? Amazon has been turned upside down . So, Amazon has been trending downward over the past two months, but it hasn't quite fallen below the support level.
I would say that Tesla gapped down in July after earnings and continued to fall for about another week before finally finding support at around $300 a share. Since then, the graph has actually become quite good .
We have managed to recover some key short-term levels and the 50-day moving average, which is very encouraging, but we are still struggling below a 200-day moving average that is trending downwards .