Tesla, Thai Beverage stock analysis, some TA observations

My response to a special request for analysis of Tesla (Nasdaq: TSLA) stock price as well as Thai Beverage listed in Singapore (Y92.SG). Also will put some of my social media shares here.

 

Tesla (TSLA) at 3-year support

Tesla (TSLA) weekly chart from late 2013 - present

Tesla (TSLA) weekly chart from late 2013 – present | Tradingview.com

Key features:

  1. This chart shows TSLA in weekly time frame from late 2013 to present.
  2. Immediate support at 3-year low (see horizontal lines). This 3-year low coincides with 52-week low in 2015, was recently tested and supported again in November.
  3. Price is trading below year open at 230.72 which means that at moment, the stock is in the red year to date.
  4. Price printed new 52-week low in February this year; this is a bearish expansion that terminates previous year to year uptrend higher high, higher low sequence. A bearish expansion is often the first signal of potential reversal. Bearish expansion is explained here.
  5. Looking further back, data on tradingview.com goes back to 2010; this new 52-week low is the first time in the chart.
  6. Quarter to quarter the price is weakening. In fact since I wrote about bearish expansion, November low also expanded below Q2 and Q3.
  7. For moving averages, I use 13-wk, 26-wk and 52-wks. I call these the ’3x-wema’. This is in line with my choice of weekly chart and I am convinced it has a good fit with quarterly, half-yearly and yearly financial reporting by listed companies. This 3x-wema array is trending down.
  8. This week’s high for Tesla at $203 is parked exactly at 26-week exponential moving average. This is to me price action displaying resistance by the moving average line.

From the chart I dare say Tesla short term movement is trending down based on the moving averages as well as Q2 – Q4 price action. For long term investors, the question is of course whether that 3-year low support is a valid one or not (see point 2).

 

Thai Beverage (Y92.SG) rising

Thai Beverage weekly chart late 2013- present

Thai Beverage weekly chart late 2013- present

Key features:

  1. This chart shows Thai Beverage in weekly time frame from late 2013 to present. The duration of chart is same of Tesla above so readers can do a visual comparison. Data is end-of-day data up till Thursday 15 Dec market close.
  2. Immediate support appears to come from 52-week ema; weekly price prints morning star candlestick pattern.
  3. Thai Beverage is in much superior shape: it has a new 52-week high, did not print bearish expansion compared to last year. The makes year to year rising trend.
  4. Array of moving averages are also rising.
  5. Q4 is slightly weaker than Q3.

Thai Beverage’s short term trend is down since beginning of Q4. To a long term investor however, this stock is in the pink of health and has a technical picture much superior to many of it’s blue chip counterparts.

 

Facebook shares Ali Baba (BABA) and Barrick Gold (ABX)

BABA is a positive example of a double bottom reversal pattern (concept here http://wp.me/PeSaw-9dc). Now interested investors can see whether current throwback will find support at the trend line in the region of the former neckline.

Ali Baba (BABA) weekly chart

Ali Baba (BABA) weekly chart

 

ABX is an example of a not typical reversal pattern (concept here http://wp.me/PeSaw-9c8) but the outcome is the same – investors would be currently looking at the throwback wondering if the previous neckline is going to be support for entry (see BABA example↑).

ABX weekly chart late 2012- present

ABX weekly chart late 2012- present

 

Twitter shares USDJPY and XAUUSD

 



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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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