[STOCK] The Technicals Behind Tesla (Trading Plan) #3
This is another update of my previous Tesla (TSLA) ideas. I personally don't own Tesla stocks at this point. I've made some profit by trading the breakout of the triangle, which is paired with the announcement for the inclusion of the Tesla stock to the Standard & Poor 500 (S&P500) Index. This event gained a lot of exposure and traction. Only a few months after the splitting of the stock (basically to make it achievable again for the masses).
Elon knows when and how to place tweets, announcement or hints for future events. It seems like he's watching the chart and spots the technical breakout points (with us together) and then he drops the tweet. Let's keep that in mind.
The expectation for the inclusion was followed by huge volume at the 18th of december. Another upcoming event were the earnings, which were - at least in some eyes - disappointing. At least this is the information that we can get from the chart. We saw a decent sell-off and profit-taking from those who where in this run during the strong surge in price.
Since then, we see the price moving sideways while making Lower Highs and Lower Lows (Descending Horizontal Channel). This aligns with a Death Cross of the MA 50 & MA 200 (yellow highlight). That's when the price previously formed a triangle, caused by indecision between buyers & sellers.
This time, we might see more sellers than buyers appearing on the market. But that just gut feeling.
Let me know what you think about the Tesla stock and this trading idea!
cheers,
Ares
Elon knows when and how to place tweets, announcement or hints for future events. It seems like he's watching the chart and spots the technical breakout points (with us together) and then he drops the tweet. Let's keep that in mind.
The expectation for the inclusion was followed by huge volume at the 18th of december. Another upcoming event were the earnings, which were - at least in some eyes - disappointing. At least this is the information that we can get from the chart. We saw a decent sell-off and profit-taking from those who where in this run during the strong surge in price.
Since then, we see the price moving sideways while making Lower Highs and Lower Lows (Descending Horizontal Channel). This aligns with a Death Cross of the MA 50 & MA 200 (yellow highlight). That's when the price previously formed a triangle, caused by indecision between buyers & sellers.
This time, we might see more sellers than buyers appearing on the market. But that just gut feeling.
Let me know what you think about the Tesla stock and this trading idea!
cheers,
Ares
Strategies, Insights & Education: t.me/KOLAcademy
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