Tesla's been tightening just where I want it to be tightening before it makes a big move - for me that's the 50 week moving average, where it held during the Covid meltdown.
Since its top in January, volatility contracted in the form of a bull flag. With earnings coming up in 4 days that looks like the catalyst to ignite a move in either direction.
Based on its history with flags above the 50 week MA, my bet is it goes higher.
This is an update to these most recent posts on Tesla:
November 8 2020
January 8 2021
GL
Since its top in January, volatility contracted in the form of a bull flag. With earnings coming up in 4 days that looks like the catalyst to ignite a move in either direction.
Based on its history with flags above the 50 week MA, my bet is it goes higher.
This is an update to these most recent posts on Tesla:
November 8 2020
January 8 2021
GL
Note
grinding at the 200dma and closing in on a breakoutNote
Next big resistance is around 830 and spot to trim for shorter term layers / active tradersIf it pauses there I expect that consolidation to set up a new pattern for new all time highs next year
Note
next targets 1120, 1500, and 2kNote
A dream set up for me would look like this from here:Note
Dream set up developing (see update above)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.