TSLA Short Term outlook
Testing both bear flag triangle and Gann Fan. Feels like there will be an inflection point for Tesla stock price during its Q2 earnings date. The price has been trending at the bottom of my Gann support since June 20 and continues to follow along the bottom.
My prediction which is always wrong. I think that we are going to see a bear flag downward and stock will hit a lower low to the $500 range one more time before heading back up to the 1000's. Both oil and 10 year treasuries are climbing back up again. This may be the last time to buy at these prices until the split.
If you are doing covered call such as myself, I would look at Detlas of 20% ($790) or higher before earnings as I see the stock dropping over the next few trading days. It's a good way to collect some premiums so you can buy more if the stock drops.
Good luck to everyone.
My prediction which is always wrong. I think that we are going to see a bear flag downward and stock will hit a lower low to the $500 range one more time before heading back up to the 1000's. Both oil and 10 year treasuries are climbing back up again. This may be the last time to buy at these prices until the split.
If you are doing covered call such as myself, I would look at Detlas of 20% ($790) or higher before earnings as I see the stock dropping over the next few trading days. It's a good way to collect some premiums so you can buy more if the stock drops.
Good luck to everyone.
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