Continuing a series... check the "vs" tag below for more.
Kensho is an artificial intelligence / search / analysis program recently hyped in NYTimes and being mentioned often on CNBC. I don't have a PRO subscription but you can see the call to sell TSLA before the event based on past history. I don't really see any "intelligence" here this is just a pattern that can continue or not.
TSLA has had tremendous rally but did just stop cold on its 1HP, YP and Q1P pivot area shown in the chart below. So using pivots alone I should side with Kensho here; ie, pivots stopped the move so next move down. But TSLA also could rally above in today's session.
But I also think that despite analysts waiting for this event for years, this is one of the true innovation stories in today's economy. Musk is a great showman. They could have some ticker showing real time reservations or something like that. Demand will be off the charts. I think it could breakout up above pivots on Friday after the event if this doesn't happen on Thursday.
But at the same time 3 pivots against the right now I am not suggesting an entry. Although the low looks great as a buy with selling climax and 1HS2, that would have been hard to do. March 3/2-3 with clear hold above the YS1 - and above a monthly pivot as well - would have been much easier psychologically to have both a long term support and medium term strength to signal a buy.
There has already been one rejection 3/22-23 that was met with strong buying on 3/24. Yesterday 3/30 looked like another rejection of the YP but maybe that is bought as well. Clearing would be bullish. Let's see what happens.
4/1 update: Human with brain beats the AI search tool. 25% short interest too haha!