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Tesla Doldrums

This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Well, Elon’s long-term desire to have his car models spell out a saucy acronym has at last been realized.

The thing is, the market really doesn’t care about making 8th grade boys laugh. They care about profits. And in a world in which every piece-of-crap stock is going up, poor Tesla is actually down 30% from its own highs, grinding endlessly lower, even while launching new products.

Looking at the long-term chart, the key level of support for TSLA is at 244.59. Break this, and it’s just going to enter a new phase of its own private bear market.

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