TSLA: Confirmed weekly long
Updated
We're already long TSLA, but now we have valid incentives to take a weekly long, specially good if you missed our early bird entry at 184 give or take. The weekly trend is shown to be up, as per the RgMov indicator, and we have a clear pattern where we broke back above the correction 'speed line' which is now holding as support, as well as having buyers step in at previous low volume levels.
All of this shows underlying strength, and considering our oil forecasts, and the SCTY merger with no one thought would happen, and last but not least, the % of the float that is short, we can expect a rapid and large short squeeze rally here. If not long, you my enter at market, or on dips, with stops under 178.19, or take a longer term style trade, buying a 2-5% account stake over the course of a few days. (I think it's a bit late for that, but not terrible).
Good luck!
Ivan Labrie.
All of this shows underlying strength, and considering our oil forecasts, and the SCTY merger with no one thought would happen, and last but not least, the % of the float that is short, we can expect a rapid and large short squeeze rally here. If not long, you my enter at market, or on dips, with stops under 178.19, or take a longer term style trade, buying a 2-5% account stake over the course of a few days. (I think it's a bit late for that, but not terrible).
Good luck!
Ivan Labrie.
Comment
Holding pretty well.Comment
Booyah.Comment
This is where you look to add after a consolidation.
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