TSLA, SCTY update

TSLA wants to buy SCTY (Musk buying himself…) and one popped the other dropped so what’s the outlook?

TSLA: Price dropped 12+% AH and the weekly chart tells the story. Either major c of Primary II is underway (preferred count) or major 2 is underway. In fall/winter 2015 we had a bear flag, and again a bear flag has formed. the prior targeted $150 and price dropped to $140. A good estimate 🙂 Now the bear flag targets $170.

tsla weekly

Price is unable to move above the two black trendlines, and all TOs are pointing down, wanting to see lower prices, which we’ll get. Critical support at $180. Below that $140 and $120. Sentiment is bearish on TSLA (it can’t deliver; over promised).

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SCTY: Neither a “musk stock” that’s been doing well. The AH pop is we believe merely a b-wave with lower prices to follow eventually. we still prefer $8-$9ish for an ultimate low. That simple.

scty