September market analysis

TESLA – daily

Tesla’s stock price generally fluctuates quite heavily; however the general price trend for Q2 2018 was upward. Interestingly, there was negative divergence identified in Aug 2018, where the price hit a new high, but the MACD oscillator was showing a negative trend. This indicator resulted in a sharp 26% price drop from 390 USD to about 290 USD in about 2 weeks. Musk’s announcement about taking the company private again and then the subsequent renouncement gave a short-term boost to the company market cap, but then resulted in an even sharper price drop to around 250-255 USD per share – the US DoJ is currently looking into potential market manipulation attempt. Continue reading “September market analysis” →