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TSLA MEGA Bearish Structure

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NASDAQ:TSLA   Tesla
Time for a new updated chart in TSLA.

TSLA has now formed a MEGA Bearish structure. While we are not near a Key area at the moment. The initial formation does not look good for the Bulls going forward.

At this point, it would take a lot of effort (buying) to change the message of the market in this chart. While anything is possible it does not appear likely at this point.

Having said that it can still bounce around in the middle of nowhere since the structure is so big, but the results will reveal themselves in time. For this reason, I will go ahead and mark it as bearish.

CAUTION! is in order.

Here are some of my previous charts and calls in TSLA. As you can see I don't miss too often in this name.



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TSLA MEGA Bearish Structure continues to grind higher against the upper trendline nearing that key area. CAUTION!

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As expected TSLA inching closer and closer to that all-important bottom trendline of the MEGA bearish structure.

Gradually then SUDDENLY!

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TSLA collapsing another -2.63% at the open.

GLORY!
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I am seeing a lot of TSLA's just sitting in used car lots all over the US.
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👀
Used Tesla Model 3 prices declined the most, with the average list price falling by 30.5% the past year. The average price declined by more than $16,000 as it dropped to about $37,000 in June.
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At year end 2022 TSLA traded at almost 19x the N+2(2024) Adjusted EPS estimate of $6.50. Today? 41x the mid-2024/2025 estimate of $5.50. Forward estimate down, multiple up.
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TSLA keeps collapsing now $225 inching closer towards the breaking point. Bad JUJU!

As expected.
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it never seems obvious to the untrained trader/investor until it does.
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TSLA is no AAPL. As I have been pounding the table since 2021.

"I bought the Model 3 for $47,190 when all was said and done (see above). Being worth just over $20,000 today (at least, in terms of a Tesla trade-in offer), it’s now at 42% of its initial price. So, it has seen 58% depreciation."
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I will repeat it as many times as needed. The crossing of a line in of itself is not a big deal. The structure is way more important. There are several ways the structure will break which I won't go into but stay focused on the message of the chart. If it breaks and how it breaks. These are all very important. Not the crossing of the line.

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Here we go again!

Tesla Cuts Prices On Model 3 Inventory In The US By Up To $5,500
You can get a brand-new Model 3 RWD for just $37,120 BEFORE the federal tax credit.

This reminds me when computers topped out. Garmin GPS, flat screens, GoPro, MP3 players etc...
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TESLA HAS JUST CUT THE PRICE OF ITS FULL SELF DRIVING FROM $15,000 TO $12,000.

The TSLA brand has been trashed.
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Can anyone remember the last time a cutting-edge "technology" company disrupting the legacy dinosaurs in its industry was forced to slash prices 6 times in a single year?

The only thing TSLA is winning is the race to the bottom in profit margins
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🇺🇸 Tesla: $777b
🇯🇵 Toyota: $234b
🇨🇳 BYD: $97b
🇩🇪 Porsche: $97b
🇩🇪 Mercedes-Benz: $76b
🇻🇳 VinFast Auto: 68B
🇩🇪 BMW: 66B
🇩🇪 Volkswagen: $63b
🇮🇹 Ferrari: $57b
🇳🇱 Stellantis: $56b
🇯🇵 Honda: $53b
🇺🇸 Ford: 48B
🇺🇸 GM: 46B
🇨🇳 Li Auto: $42b
🇮🇳 Maruti Suzuki: 37B
🇰🇷 Hyundai: 33B
🇮🇳 Tata Motors: 26B
🇨🇳 Great Wall: 26B
🇰🇷 Kia: $23b
🇨🇳 SAIC: $23b
🇮🇳 Mahindra & Mahindra: $23b
🇺🇸 Rivian: $22b
🇨🇳 NIO: 20B
🇯🇵 Suzuki: $19.6b
🇯🇵 Nissan: $17.1b
🇨🇳 XPeng: $16.2
🇨🇳 Chongqing Changan: $15.9b
🇯🇵 Subaru: $15.1b
🇺🇸 Lucid Motors: $14.5b
🇨🇳 Geely: $12.9b
🇨🇳 GAC: $12.3b
🇹🇼 Hotai Motor: $12b
🇹🇷 Ford Otosan: $11.8
🇸🇪 Volvo Car: $11.2b
🇫🇷 Renault: 11B

The TSLA valuation absurdity can be viewed here.
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AAAND!!!! Right back down.

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Calling in favors from Morgan Stanley with a 66-page buy report (LOL) has changed nothing about this MEGA Bearish structure.
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Anyone who takes MS Adam Jonas's "Dojo" report on TSLA seriously should read this excerpt from a conference call with clients in May 2019.

He called TSLA a "distressed credit story" and said deliveries would miss (they didn't).

The stock was at $12.84 that day.

Lol!
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TSLA used car prices have dropped -40% from their all-time highs from a year ago.

As I mentioned a few months back, I am seeing too many TSLA's in schitty used car dealers.
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14 states, including Hawaii, have NO Tesla “service” center. In many states the nearest TSLA “service” is several hours away. Tesla became a $900 billion company by faking self-driving video, faking range, hyping nonexistent robotaxis, rushing defective cars out the factories…
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Imagine how happy TSLA lineworkers will be when they find out their hourly wages are 50% below the industry average once the UAW pushes through its wage hikes.
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CATHIE WOOD ON CRACK AGAIN TESLA BEAR CASE IS $1400, BULL CASE $2K

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FED day and TSLA is cracking a mini structure. Not a good sign for the overall risk on market.

What is nice about my style of charting is that what works on big-time scales works on smaller time frames as well. Any time frame can be analyzed using BKC (Bare Knuckle Charting) the only difference is that in smaller time frames news affects the chart more frequently whereas in bigger time frames it is more muted.

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MAGIC! As expected the crack was not a good sign for the overall risk market prior to the FED.

As I mentioned in my last post BKC (Bare Knuckle Charting) works on all time frames. The only difference is that in smaller time frames news affects the chart more frequently whereas in bigger time frames it is more muted.

We can see that now on the chart below. As FED spoke it spiked and then collapsed resolving in the correct direction it showed prior to the news.

Magic!

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TSLA is down today over -3.5% as it once again cracks a key area.

In my previous post, I showed a small time frame of 15 minutes that was bearish that could lead to more substantial risk off for the overall market. I made that call just prior to the FED announcement.

Since then we have seen nothing but falling prices across the entire market. TSLA is now in trouble after breaking the MEGA structure for the 2nd time in a month which could lead to a rapid drop in valuation in the weeks ahead.

Overall as expected!

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Bingo!

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What happened to all the TSLA end-of-Q3 gamma squeeze this morning?
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TSLA

🔸TESLA 3Q DELIVERIES 435,059, EST. 456,722 lol
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Elon Musk's Twitter stock purchases under investigation by SEC - court filing -
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When you see multiple Head and Shoulders in a chart. You know it's just a matter of time before the inevitable occurs. CAUTION!!

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No surprise to me or anyone who has been following or agreed with me. As expected

TESLA 3Q EARNINGS PER SHARE $0.66, EST. $0.73

TESLA 3Q REV. $23.40B, EST. $24.32B
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Wow. TSLA took on over $2 billion in debt during the quarter.
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TSLA $233.67
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TSLA GAAP EPS, ex-credits, but fully taxed (at 21%), would’ve been $0.33 in the 3Q. Still seems a bit rich.
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KABOOM!!!

Great analysis prevails again!

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Tesla’s price cuts this year show customers are no longer willing to pay a premium for its vehicles.

That raises a key question on Wall Street: Does its lofty stock-market valuation make sense anymore?

Hell NO!
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#TSLA $210 new lows.

Fun fact! TSLA has now lost the market cap of Ford and GM combined!
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One of the great BKC charting is that it gets you in when no one else is looking.TSLA was a great example of that. There were so many bulls back when I posted this chart. Not so many today

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So, #Tesla China Domestic sales for October are now out. Disastrous would be a kind reflection. Tesla China delivered 28,626 vehicles domestically in October, a 34.2% decrease from September 2023 and 6.9% overall growth YTD, vs #BYD at 70.2%.
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TSLA continues to underperform the NASDAQ. Bad JUJU!

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The average price of a used Tesla is now 29K lower than the peak in July 2022, a 43% decline. TSLA
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The well-established repetitive pattern of flagging out into a H&S, cracking, and falling. This time it did not even make it to the overhead downtrendline. Signaling more weakness.

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MAGIC!

Surprised? You shouldn't be.

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Fun fact! Unless you own a TSLA.

The average price of a used Tesla has declined 18 months in a row, moving from a record high of $67,900 in July 2022 to a record low of $35,844 today (-47%). TSLA

Gentle reminder markets tosay are making new all highs while TSLA stock is barely holding on from collapsing. 👀
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TSLA out with the triple-miss Revenues, EPS, and gross margins all disappoint and that's despite analysts taking a chainsaw to their estimates over the last 12 months.

Do you still think I am guessing?

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Musk saying production of the TSLA next-gen vehicle will begin in the 2H of 2025. Without a prototype! haha!

You can be a genius too if you just run around lying to everyone.
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The warning signs have been there all along since June when I first posted this chart. Since then TSLA has lost 1/3 of its value.

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NASDAQ at all time highs while TSLA is down -60% from its highs.

Have we finally established that TSLA is not a tech company?

Thank you!
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TSLA crashes again down -4%

Folks, it was all written in the charts.
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TSLA hits $175

Like I keep telling people, there is nothing bullish in the charts. Now they know!

As expected!

Don't forget to follow for more great content!

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TSLA average new used car sell makes yet another low! $32,900

From bad to worse! As expected!
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Gap-fill CRASH!

As expected!
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Markets are at all-time highs and TSLA collapsing.

"Gutsiest call I ever saw Maverick!"

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The average price of a used $Tesla has declined 20 months in a row, moving from a record high of $67,900 in July 2022 to a record low of $31,724 today. That's a 53% decline.
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So today, TSLA cut the price of FSD 50%, a sell-side analyst went to negative delivery growth in 2024, and CATL announced competition for the Megapack.🤭
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TSLA preparing for the next leg down.
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TSLA

Another day, another downgrade.

DB cuts to hold. Whacks estimates.
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Gentle reminder my call that TSLA had a mega bearish structure was made June 2023 Today we see a YTD drop of -40% while markets were making new all-time highs.

Thats proper charting my friends.
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Do you still think "buying the dip" I'm TSLA was a good Idea? SMH!

Look for my "Modana/Whore" complex video.
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TSLA now trades like GME. And we all know how that is working out.

Bull trap in the making.
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Bull Trap!

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