Tslalong
TSLA continues upwards relentlessly. Short-term 12% rise coming.There is no doubt about the value of Tesla as a company. The proven value they provide is obvious: reducing EV manufacturing cost, making the best energy storage, launching self-driving, Tesla insurance, and more to come. However, regardless of fundamentals, this is a technical analysis that only considers the chart. That is generally my style. Today's green candle might not be huge, but it is a very strong signal of the bullish momentum to come. Yes, there is still bullish momentum in TSLA. This ascending triangle is getting broken to the upside. Taking the height of the triangle draws a target at $770, a 12% rise . Further is a higher target at $873 which I've set some time ago based on bigger scale trend analysis and Fibonacci which I might show later. The stop loss is at two points, depending on how reckless/conservative you are. The higher one is below the last swing low at $650. I don't see this one as a very convincing stop loss because price didn't linger there long enough to establish support. The lower stop loss is the support at $605 . This makes a 1:1 Risk-Reward trade; not very lucrative. However, it is a reason to hold on to your current longs. I see this as a strong signal of upward momentum and another reason to suggest $873 is achievable soon.
Oh. You might wonder why my triangle is crooked. An ascending triangle is supposed to have its upper line horizontal. Well, that's simply my experience observing Tesla. Call it an inflation-adjusted triangle, or whatever reason is accelerating TSLA's upward moves and decelrating its corrections, but in any case, it is easily justifiable to look at TSLA chart skewed upwards.
US Stock In Play: $TSLA (Tesla Inc)$TSLA has recaptured its all time high (traded on 18th December 2020) at the close of this morning session at $696.60, an intraday gain of +4.32% This totals up a +56.02% rally since the breakout of its Symmetrical Triangle chart pattern. Price volatility of $TSLA has been picking since early December as Wall Street braced for the inception of $TSLA into S&P500 on 18th December, with the necessary funds (i.e Physical ETFs) adjustments to match the benchmark’s shakeup.
As current price volatility remains significant at a range of $34/day ATR-14, $TSLA has treaded into a month long consolidated Bearish Wedge chart pattern. The negation of this Bearish Wedge would require $TSLA to attain $720 level within the next 10 trading session.
TSLA - Bears Taking ChargeI've always been skittish about shorting TSLA for obvious reasons, but the bears may be gaining momentum that's hard to ignore. With Wells Fargo analysts making a dire prediction that TSLA is the next AOL, and the uptrend breakdown over the last few days - I think we'll see some more sideways or downward price action on TSLA in the next day or so - short of any major actions regarding the stimulus. North of $674 however, this trade idea flops. Price target $640
TSLA boom or bust for 12/21?Tesla and SP500 is now last friday's news. I think we see a spike in pre-market and then market open on Monday i think all the short term buyers will sell off. TSLA will do its accordion thing bouncing between 500 and 700 and end up somewhere in the middle 600? anyways with all the buying thats completed worried about calls having IV crush and sold friday while holding shares to see what happens in the morning. dip buy for sure. good luck!
A drop to 585 before continuing the epic bull run is likely. Look for a drop down to 585 before a major sport level is reached,
The support level including the S&P 500 index influx will be strong catalysts to push TSLA to $700 + by 12/23.
Im looking for a slight dip in the early part of the week only to give way to a massive push heading into Friday and will continue the following week as funds pour money into Tesla.
TSLA TREND 2.0Ichimoku lagging span is still showing a strong bullish trend.
Now, there are pullbacks which is healthy for the trend but they are nothing more than that.
Simple and healthy pullbacks.
The ichimoku lagging span indicates how weak the pullbacks are (opinion: i’m guessing it is due to sell offs from investors who are taking profits for the holidays).
Also, there seems to be strength within the 600 mark, as it acted as a form of strength and now a possible form of resistance since the 600 mark was broken, and is now providing resistance for the price action.
My last indicator for a further uptrend would be the VWAP as it broke past the VWAP and bounced off of the VWAP at 603(still keeping above the 600 mark.
Best bet would be to HOLD at least until after the S&P500 inclusion. It would be a good chance to TP, but it may also be a perfect opportunity for more resistance above 600. As further growth comes to TSLA, long term positions should continue to prosper.
Buy Tesla Calls BroDo yourself a favor - Sell your BTC for $18,000 or whatever it is at and buy NASDAQ:TSLA Puts with it.
PS this may be the dumbest idea of the century but I am taking that chance. Technicals DO NOT WORK in this market so why the fuck not do something as stupid as this.
Who is old enough to remember Cisco?
US Stock In Play: $TSLA (Tesla Inc)$TSLA have further broken out of its all time high psychological resistance at $607 which was exhibited by a Bullish Flag consolidation pattern, closing at $641.76 at end of market session.
During the short period of 16 day trading session, $TSLA have successfully broken its 1) Symmetrical Triangle Chart Pattern, 2) All time High $504 breakout, and 3) A bullish flag breakout this morning, rallying to a total gain of +47.18% on its share price.
We may be poised to see $700 being attained before Christmas.