TSLA Potential EW Count: BTD at 680?TSLA could be making its way back down under 700 very soon...but that might be the last time you'll see it under 700 for a very very long time!
Be mindful TSLA is also in an upwards channel, once the wave (c) completes from 752 to ~675...we could see a monster run for a primary Wave 3 up to 898 eventually! (Longer term)
Please examine chart
For now, you can try trading the wave (c) down to 675 with a hard stop loss over 752!
These are just my ideas, I am not a financial advisor nor am I professional EW trader!
Happy Trading
Tslalong
TSLATSLA
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Waiting Game TESLA (TSLA):Bulling long term scenarioHello traders and investors!
Today we are considering the idea that Tesla (TSLA) can reach a target between $1,400 and $2,600.
As far as I can see we are in a corrective structure. I consider it as a simple (and relatively) shallow zigzag to complete primary wave 4 and "follow" the guideline of alternation with primary 2 (complex and deep WXY correction). If this structure will eventually unfold as zigzag (with a B wave as a triangle) we should also see market geometry respected:
a) wave 4 = 38.4% of Wave 3 at the middle line of pitchfork connected between cycle 1 and cycle 2
b) primary wave 4 completion in the region of intermediate 4 of lower degree
Targets:
$1,400 if primary wave 5 = 61.8% of primary wave 1
$2,600 if primary wave 5 = 100% of primary wave 1
Let's see what happens next.... as usual no rush to buy the dip
TSLA Bullish LineupTSLA has been consolidating since our explosive run early this year, I believe a breakout to the upside is imminent for the following reasons:
We're riding a support line that has held up since the March '20 COVID-19 crash
Bulls have gained control over the 50 MA, which is providing reinforcing support to the major support mentioned prior
We had a major Symmetrical Triangle pattern breakout to the upside early August, showing bullish strength
Finally, on a more technical view, RSI is showing a comfortable position while we dance against the upper side of our resistance. As well as MACD is turning over to a bullish momentum.
In red I have identified our resistance, and in green is support.
The bottom green parallel channel represents our major support and buyer interest zone, while our upper red channel shows our major resistance zone, one which I believe we will bounce off of after a breakout, before finding support around $720, and continuing upward.
Best wishes, Good luck.
Comment your ideas!
Update- see previous chartsTSLA is forming quite a large rising wedge (Bearish) on its yearly chart after breaking out of the symmetrical triangle (see previous chart), which was preceded by TSLA breaking below the bear flag above. While TSLA did close on Friday sitting right on its 50-day EMA there is also a Bearish Gartley harmonic on the 4-hour timeframe (not pictured). Definitely will be keeping a close eye on TSLA in the coming weeks for potential long-term entries- just an updated chart with some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on
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TSLA closed on Friday sitting right on its 200-day SMA. It previously broke below the bear flag to test a long-term uptrend line, while simultaneously forming what appears to be another bear flag / rising wedge ( bearish ) going into earnings on 7/26'. If this long-term uptrend line is broken, TSLA could see sub $600 especially if the broader markets continue pulling back. Will be keeping a close eye on TSLA here for potential long entries.
$TSLA - Diamond Reversal?Are we going to see a Diamond Bottom reversal on NASDAQ:TSLA ?
Right now, TSLA is riding its way up the price scale on an uptrend but is currently experiencing a local down wave which has brought us down past the current up channels 0.382 Fibonacci line. This lower 0.5 line of this upwards channel may save the day and help get things back on track. It looks like $TSLA is entering into a diamond pattern which could - if successful - help with the journey towards the $750 target before AI Day (Aug 19th), which people seem to have in mind.
If not currently holding $TSLA and looking to pick it up as a trade, it would be possible to pick up a safe entry just above the 0.618 in the $710 area , or a slightly riskier play may be to try and catch a wick down past the 0.5 @ $706.91.
A few points worth mentioning:
Volume is forming a U shape on the 15min chart where the possible Diamond Pattern occurs.
RSI nearing neutral territory
So far, candles are respecting the lower 0.618 & 0.5 of the upward channel and 0.382 & 1 Fibonacci lines of the downward channel (area highlighted in yellow)
$750 price range aligns with the 2.618 of the local fractal we are working through
* This Content is for informational purposes only. You should not construe any such information or other material as investment, financial, or other advice.
TSLA: An impending 10% up side move?Broke out of a down trendline.
Had a 10+% surge up at end of July.
And price is not consolidating.
Anticipating another 10+% burst up soon. Perhaps a better time to enter is when the 20MA catches up.
Target profit also coincides with a resistance at about $780.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
TSLA / Tesla LongI entered the trade as shown on graph. From technical analysis we can see the neck and shoulders pattern directly before the price shot up. Using some graph theory maths I came to the following trendlines to fit data. Trendline 1 and 2 is both active lines over the medium term and looking at where they meet up, it looks like we hit that pivot point today but lets look if the momentum can be sustained so that the price is as close to pivot point 1 and 2 if not higher.
My Stop loss is indicated at $570 Personally , the lowest it should be is $545 and we are looking at taking profit above both trendlines at. $784
However if you don't mind risk and patience, I'm sure tesla will be over $1000 in probably less than a year.
Please view full graph for all levels and line explanations. With the last few days move on crypto you could expect Tesla shares to start showing the correlation more soon.
TSLA long triangle, low volatily, last up leg before top?3 highs and 3 lows triangle, squeezing into a low volatility funnel. Imminent breakout confirmed.
Increase in volume confirmed.
Overall market sentiment - good. SPX at ATH.
Not an ideal RRR, but you can lower the stop and increase your size - personal preference.
Hold open till last target at 1000$. I would say probability around 66%.
Trade Opportunity Coming $TSLATesla recently broke out of the $690 resistance and there is a large sell wall at $750. Take profit area is first at $740 then $750. There is also a short opportunity here if Tesla breaks to the downside. Watch for a $709 downward break to go short. Volume has slowed down in recent days and plenty of catalysts coming tomorrow (Jobs, unemployment, anything Musk says...).
TL;DR
Long: break out of $725 triggers buy. TP1 = $740 TP2= $750
Short: Break of $709 triggers sell. TP1 = previous resistance @ $700 TP2 = Gap fill location $685