ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

To: Sun Tzu who wrote (83345)	1/4/2024 3:54:00 PM
From: Sun Tzu	1 Recommendation of 97910

What is the purpose of the Blue Line in my charts? The blue line is where most investors are positioned. It serves two purposes. Firstly, it is the the "T1". Stock is likely to bounce near it. Secondly, and perhaps more importantly, it tells me how lopsided the investors are. The neutral place for the blue line is dead middle of red and green lines. When you see it too close to one side or the other (e.g. it is too close to the red line in the daily TSLA chart now) then the risk/reward favor moving away from the blue line towards the other end. So if you look at the post I am replying to, you see the TSLA blue line much closer to the red line than the green line. This means too many people have made bullish bets on TSLA and have jumped in with FOMO. By itself this means nothing. But this same crowd is going to cut bait fast should the stock rollover. And that adds the to downside momentum. This is my TA thesis for shorting TSLA here. There are FA reasons too. EDIT - As expected TSLA closed below the blue line. So unless the numbers are surprisingly good tomorrow, it should keep going down to the green line.

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