Tesla - 400$ is possible
The weekly zoomed out picture is clear, a long consolidation area where an inverted H&S pattern formed. If prices break out of this consolidation, I think there will be a massive surge to 400$, maybe even 500$ (who ever thought google will go to 1000$?). Right now, price is bouncing off the shoulder line where there is strong support.
The daily chart has formed a false breakout into the major weekly support area, with a beautiful class A bullish divergence.
As the title clearly suggests, I am looking for 400$ on this stock. However, in order for that to happen, there should be a breakout above the 270-290$ area, so that is my first target.
A bearish reversal now and prices accelerating strongly below the neckline would stop me out.
The daily chart has formed a false breakout into the major weekly support area, with a beautiful class A bullish divergence.
As the title clearly suggests, I am looking for 400$ on this stock. However, in order for that to happen, there should be a breakout above the 270-290$ area, so that is my first target.
A bearish reversal now and prices accelerating strongly below the neckline would stop me out.
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