Still in a triangle?

22 Okt 2020

This is an update from my last post about Tesla. As I expected, the Q3 earnings report was a surprise figure with a reported EPS of 76¢ (compared to the expected EPS of 55¢). The triangle pattern that I shared before had since broke out and then crumbled, leaving me and a few others to believe that maybe a combination pattern is unfolding. But I have one hypothesis to propose before going in that direction. I believe that we still could be in a triangle in which the B wave is itself another triangle. Volume is still pretty low which would support this idea. If I’m right, we will probably see the price drop to $390-400 one last time before the triangle breaks out. Let me know what you think.