Tesla - Going Long
Tesla did good and did not sell off. I was wondering why so I thought to put fixed volume profile and point of control in the chart and found that the investors are holding around $425 and $465 levels. When I see sell volume, I see the bottom sell point of 481-483. It does not look like it would go below 480. Another reason is all the S&P500 inclusion hype and consistent 5 quarters of exceeding earnings expectations. Spy hit 354.25 AHs which indicates SPY is holding tight, did not touch 352. Even though, you see Tesla in downtrend in 1hr and 4hr chart, I see retail and day traders try to push towards 500+ again. I think it will be easy 500+. If you see uptrend at the open on Monday, it will be sure 500+ during the day
Do you own due diligence!
Indicators used -
Volume profile
Fixed Volume
EMA - 9,22 & 55
Support and Resistance levels
MACD
RSI 14
OBV
TVA
Do you own due diligence!
Indicators used -
Volume profile
Fixed Volume
EMA - 9,22 & 55
Support and Resistance levels
MACD
RSI 14
OBV
TVA
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