TSLA: Interesting accumulation base
Updated
I went long TSLA right before the closing bell last Friday.
I'll update as soon as the market opens today.
I think oil is set for a rally and this can only benefit TSLA which already looks ready to climb up from this zone to the 250+ region.
The Key Earning Levels have been constructive, showing strong support holding and a series of higher lows while spending time in this consolidation, which to me looks like massive accumulation in the shadows.
As an extra, the quarterly chart shows it's possible to get a new uptrend signal similar to the one that triggered back at the end of April 2013, which makes the long side a very interesting proposition.
Cheers,
Ivan Labrie.
I'll update as soon as the market opens today.
I think oil is set for a rally and this can only benefit TSLA which already looks ready to climb up from this zone to the 250+ region.
The Key Earning Levels have been constructive, showing strong support holding and a series of higher lows while spending time in this consolidation, which to me looks like massive accumulation in the shadows.
As an extra, the quarterly chart shows it's possible to get a new uptrend signal similar to the one that triggered back at the end of April 2013, which makes the long side a very interesting proposition.
Cheers,
Ivan Labrie.
Trade active
On track, up from my entry.Note
Range expansion up day today, looks like the uptrend will continue as expected.Might be worth it to enter on retrace after the close.
Note
Trade failing, might be safer to stand aside.
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