TeslaLong
TSLA in the massive descending channel
Updated
Tesla is a leading electric vehicle (EV) manufacturer and clean energy company known for its innovative and sustainable approach. Led by CEO Elon Musk, Tesla has revolutionized the automotive industry with its advanced electric car models and is driving the transition toward renewable energy.
The TSLA stock is currently following a significant downward trend and appears to be approaching a potential breakout point to the upside. I have included the weekly chart of the stock and anticipate little pullback before the breakout, as indicated by the overbought condition suggested by the RSI. It could present a favorable opportunity for a position (upward) trade within the anticipated pullback range. Please note that this analysis pertains to the weekly timeframe.
To add a touch of enjoyment, I've used a black heart symbol to represent the market structure's higher highs (HH) and higher lows (HL), while a red heart symbolizes the lower highs (LH) and lower lows (LL). This playful approach adds a bit of fun to the analysis.
*Please note that* the information provided is not intended as financial advice. It is purely an idea or suggestion for informational purposes. It's important to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
The TSLA stock is currently following a significant downward trend and appears to be approaching a potential breakout point to the upside. I have included the weekly chart of the stock and anticipate little pullback before the breakout, as indicated by the overbought condition suggested by the RSI. It could present a favorable opportunity for a position (upward) trade within the anticipated pullback range. Please note that this analysis pertains to the weekly timeframe.
To add a touch of enjoyment, I've used a black heart symbol to represent the market structure's higher highs (HH) and higher lows (HL), while a red heart symbolizes the lower highs (LH) and lower lows (LL). This playful approach adds a bit of fun to the analysis.
*Please note that* the information provided is not intended as financial advice. It is purely an idea or suggestion for informational purposes. It's important to conduct thorough research and consult with a qualified financial advisor before making any investment decisions.
Note
I have achieved my desired price level, so I closed my long position and initiated a short-swing position @253 a target price of 221. Please remember that the chart I shared pertains to the weekly timeframe. If the price closes above 262, indicating a full candle confirmation, I will close my position.Note
I have re-entered this pullback play. (short)
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