Trade Idea #49 - $TSLA - Swingers Playground$TSLA showing huge movements lately. The last published chart was stopped out (so was teh trade) but a re-entry at the same set-up proved to be profitable enough to cover losses and then some.
Tesla is now showing a decent swing trade set-up after a 45% rise. Time to short the exuberance.
Conservative target of 195
Reasons
Suppression at 200 & 365 EMA
Overbought RSI on the short-term lookout
Dynamic Trend line resistances
Rate Hike could be mega bearish
Good Luck
Teslamotors
I would get in TSLA now Hot and LongThe historical volatility is at all time highs, which makes sense with all the selling in the beginning of the year and now the recent upgrades and Model 3 being released to drive on March 31st. Article provided in this link , titled "Elon Musk previously said we'd only see part of the car at this month's unveiling. Apparently that's changed." Now, we are ramping back up vigorously. The volatility is higher than when we had a clean move upwards in the Directional Movement Index back in April of 2015. Now, we are experiencing that, but more intensely (the two long vertical lines show this instance).
The golden dashed green line is the general trend line of the overall lowest highs of this monstrous stock. Although we fell below it, it has help create an insightful Fibonacci trend line that shows an extraordinary upside to 311, my 2016 PT (price target). The predicted short-term price target lies on wave I in the Elliott Impulse Wave formation. There is a high probability that the price will land in this 240-245 range in 3 weeks; the beginning of April, because both Fibonacci retracements are converging here. Additionally, the golden dashed line is in conjunction with this price range.
The hot area is in early July (around III in the Elliott Impulse Wave Formation and R; the overall resistance), where we will see another high before we break out eventually to the high of the year of 311, which is at the end of the year and in the 5th most dominant wave of the Elliot Impulse Wave.
TSLATesla is trading within a larger weekly-monthly distributive pattern. The 7-month trend has been within a BEARISH descending channel. Each prior attempt to test the upper trendline has formed a rally to has failed to follow through...an "upthrust." Longs are holding onto *RISK* into resistance.
If the 50% Fibonacci retracement holds the bias would continue lower supporting distribution thesis with a TARGET as absurd as $100
Trade Idea #47 - $TSLA - Is it time to buy?Tesla is looklng deeply oversold and the earning report may be brutal. Or it might just be a set-up I am willing to take.
Reasons
1D RSI oversold deeply.
Entire market ready to bounce.
Squeeze looks imminent.
My stop is soft through 145-150.
Correct position sizing for these high % swings is crucial.
Good Luck
Tesla Stocks Renko Nearing Cloud Exit.On the daily 2$ Renko chart, TSLA is nearing it's exit oft the ichimoku cloud. This is a good sign for bears and would serve to be a profitable entry.
Enter Short If:
- 1 Renko box closes successfully under the cloud.
- Renko is below the Tenkan-sen
Exit::
- Trailing stop set 2 to 3 boxes behind entry.
Tesla One More Up then the Last Leg DownTesla Looks to be forming a dual pattern that would double confirm the pending leg down in the April-May time frame.
Elliot waves up and down with a Head and Shoulders pattern overlaid on top.
I expect to see a price overing over $100 if the bottom falls out.
It shouldn't cross below $100 in the Spring to Summer time frame.
Did this quickly so no stop loss shown.
$TSLA, lots of technical resistance, lots of potential$TSLA has a lot of resistance at the current levels. However, if Tesla can reclaim the 50 day, it is a sign of strength, and could lead it to the next high of ~$320.
A reclaim of the 50 day means: Gap is almost filled, $245 resistance broken, regression channel broken, and of course the 50 day is broken, leaving only $265 resistance, which isn't as strong.
Bullish Cypher Pattern Forming On TSLAA Bullish Cypher is forming on the daily charts of Tesla Motors Inc. (TSLA). Currently, price has completed the initial extension leg AB and CD when it is making a reversal at the 127.2% and 141.4% extension zone. The next leg, if the pattern is to remain valid, is a move downwards towards the 196.73 area where it meets the 78.6% Fibonacci Retracement level of the A-C leg.
For more details of Cypher Patterns and their formation rules, please visit SimplyChartPatterns.com
$TSLA looks more like a cup and handle, not a double topThe volume was higher on red days than green days during the first top, and during the second top the volume is low (typical of a cup and handle) and also higher volume on green days than on red days, indicating a bullish chart. This may still turn out to be a double top, so investors should be cautious and watch the support.