TSLA - Tesla...the $310 level is important to watch...

Tesla - TSLA

The levels around $310 continue to be important for Tesla.  They were clearly defined support in January, February, and March and clearly defined resistance in April and May.  Then they were support in the first half of July and resistance in the second half.  They have also been the bottom over the past few days.

What does this mean?   I think that we have to watch this level over the next few weeks until this 'going private' narrative plays out.  If support at the $310 level holds, it will be a long-term Bullish signal and the stock will head higher.  Conversely, if this level breaks I believe the stock will head much lower.  The market knows more than we do (and that includes the media and overpaid Wall Street 'Gurus') so we need to see what it is going to tell us over the next few weeks.


 
 TSLA Tesla

 

NIKOLAI TESLA was a Serbian American inventor, electrical engineer, mechanical engineer, physicist, and futurist who is best known for his contributions to the design of the modern alternating current (AC) electricity supply system.

Born and raised in the Austrian Empire, Tesla received an advanced education in engineering and physics in the 1870s and gained practical experience in the early 1880s working in telephony and at Continental Edison in the new electric power industry. He emigrated to the United States in 1884, where he would become a naturalized citizen. He worked for a short time at the Edison Machine Works in New York City before he struck out on his own. With the help of partners to finance and market his ideas, Tesla set up laboratories and companies in New York to develop a range of electrical and mechanical devices. His alternating current (AC) induction motor and related polyphase AC patents, licensed by Westinghouse Electric in 1888, earned him a considerable amount of money and became the cornerstone of the polyphase system which that company would eventually market.

Attempting to develop inventions he could patent and market, Tesla conducted a range of experiments with mechanical oscillators/generators, electrical discharge tubes, and early X-ray imaging. He also built a wireless-controlled boat, one of the first ever exhibited. Tesla became well known as an inventor and would demonstrate his achievements to celebrities and wealthy patrons at his lab, and was noted for his showmanship at public lectures.

Throughout the 1890s, Tesla pursued his ideas for wireless lighting and worldwide wireless electric power distribution in his high-voltage, high-frequency power experiments in New York and Colorado Springs. In 1893, he made pronouncements on the possibility of wireless communication with his devices. Tesla tried to put these ideas to practical use in his unfinished Wardenclyffe Tower project, an intercontinental wireless communication and power transmitter, but ran out of funding before he could complete it.

After Wardenclyffe, Tesla experimented with a series of inventions in the 1910s and 1920s with varying degrees of success. Having spent most of his money, Tesla lived in a series of New York hotels, leaving behind unpaid bills. He died in New York City in January 1943.

Tesla's work fell into relative obscurity following his death, until 1960, when the General Conference on Weights and Measures named the SI unit of magnetic flux density the Tesla in his honor. There has been a resurgence in popular interest in Tesla since the 1990s.

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TESLA is an American rock band formed in Sacramento, California in late 1981 by bassist Brian Wheat and guitarist Frank Hannon as Earthshaker, and later City Kidd. Lead vocalist Jeff Keith, drummer Troy Luccketta, and guitarist Tommy Skeoch joined them by 1984. By 1986, the band had changed from its glam-derived sound to a 'rootsier' direction under a new name: "Tesla". In 1996, the band disbanded, with members devoting themselves to solo projects. In 2000, they reformed, but Tommy Skeoch departed the band in 2006 due to substance abuse, and was replaced by Dave Rude. Despite totally sucking ass they have somehow sold 14 million albums in the United States.