Rebound PlayI previously charted this stock with the hopes of a breakout to the upside with all new highs. I liquidated before the recent overall market pullback that happened. The one aspect that will always get me into a stock is CONSISTENCY. If the price action seems to continue to follow past trends it is safe to assume it will do the very same again. Now......I am not all in here. A few things to occur before I start investing money in CTEQF again.
1. Consistent, and high volume.
2. Steady climb in indicators.
3. Electric car frenzy needs to continue....lol, of course this will happen.
Electriccars
Tesla breaks out of a 3+ year rectangle to the upside before ERAs earnings near, Tesla breaks out above its 100 day moving average (pink line) and a 3+ year rectangle pattern (blue lines). If earnings beat, diagonal support line 1 could be breached, starting a $95 move upward as forecasted by the rectangle. New support at diagonal line 2 and blue line Y. RSI is still in a bullish upward channel, but let's watch for a movement above 70.
Is Tesla Reaching Another Peak?NASDAQ: TSLA potentially could be reaching its peak. In previous trends TSLA has hit peaks around 266, about four other times within the last year. With earning reports coming soon for Tesla (February 22nd), there is surely a peak(surge) or a fall(drop) coming. Check it out!
TSLA is Super ChargingEarnings beat est and production guidance is very ambitious. After market pop up as high as 235, waiting for tomorrow's open and pre-market action. Waiting for breakthrough or re-test @243 (1st Resistance/Support). Searching for formation,
OBV and DMI signaling bearish tendency, but RSI indicates short run upside. TSLA could consolidate in a downward or upward manner or dramatic as I have illustrated.
