Wednesday, 27 November 2013

FB, TSLA, - vulnerable to further downside

Whilst the main US equity indexes look strong into 2014, Facebook (FB) and Tesla (TSLA) both look particularly vulnerable to declines into end year. FB is offering a clear H/S formation..with the neckline already broken, with TSLA still on track for a hit in the $110/100 zone.

FB, daily

TSLA, daily


As many recognise, Mr Market is kinda tired of at least some of the momo stocks lately.

TSLA has already been smashed significantly lower, whilst FB is still battling to retake the daily 10MA.

Despite the gains today, overall, both look weak into December.

Downside targets remain...

FB, $35, possibly 32
TSLA, 110/100. If a few daily closes <$100..then...70/60 in early 2014.