TSLAPair : Tesla Index
Description :
Completed " 1234 " Impulsive Waves
Break of Structure
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Demand Zone
TSLAB trade ideas
Tesla (TSLA) for tomorrow and the rest of the August 21, 2024
Chart Overview:
Timeframe: 1-hour
Price Action: TSLA has been in an upward channel but recently had a pullback. It's currently near the lower boundary of the channel.
Key Levels:
Support:
$220.29: Strong support, aligning with the lower boundary of the channel and the Ichimoku Cloud, which might act as dynamic support.
$219.43: Another support level just below, likely an important psychological level.
$212.22: Strong support; if price breaks below the channel, this level could be tested.
Resistance:
$228.38: Immediate resistance where the price previously encountered selling pressure.
$234.60: A higher resistance level; a break above could signal a continuation of the bullish trend.
$249.89: Major resistance; a target for the bulls if the momentum continues.
Technical Indicators:
Ichimoku Cloud: The price is above the cloud, which is typically bullish, but the current pullback suggests some consolidation or a possible trend reversal if it falls below the cloud.
Trend Lines: The price is nearing the lower trend line of the upward channel, which is crucial. If it holds, it might bounce back to test the upper trend line.
Trading Strategy:
Bullish Scenario:
Entry: Consider entering near the $220.29 support level if it shows signs of holding, with a tight stop-loss just below $219.43.
Target: First target around $228.38, and if momentum continues, look for a possible move to $234.60.
Exit: Partial exit near $228.38, full exit near $234.60 if resistance holds.
Bearish Scenario:
Entry: If the price breaks below $219.43 and closes below the Ichimoku Cloud, consider entering a short position.
Target: First target near $215.25, and if it continues to drop, a secondary target at $212.22.
Exit: Tight stop-loss if the price reclaims $220.29; full exit near $212.22.
Rest of the Week:
Upward Continuation: If TSLA holds the current support and breaks above $228.38, it could continue higher towards $234.60, and possibly $249.89 if bullish momentum strengthens.
Downward Continuation: If the price breaks below $219.43 and closes below the Ichimoku Cloud, a downward trend could be confirmed, with $212.22 as the key level to watch.
Monitoring the price action near these levels, especially the interaction with the Ichimoku Cloud and trend lines, will be essential for determining TSLA's direction for the rest of the week.
$TSLA #InvH&S Base to $300 and #BeyondNASDAQ:TSLA is setting up a very nice potential Inverse Head n Shoulders Pattern...
Technically you want to wait for the "neckline" to break before entering. Personally I'm looking at playing it into the neckline and #Beyond...
In this specific area "A Gap Above 235 would be #Perfect" ...
JPow Tomorrow will be #Interesting
-Proph
PS: If history repeats, expect more of the same (Bullish), Lies, CPLies, Employment Number Lies, etc...
But Trump floating rumor about them "revising" and his history of "I hate to say I was right's" ...
He's also been floating the idea of 29' style crash... The #Board feels like it's setting up a massive rug pull at some point, doesn't have to be tomorrow...
Stay #Alert , no time for #Complacency imo , they practiced/rehearsed the Rug Pull that other Monday to #Perfection...
Possible BUY set up for teslaPrevious liquidity purge, price ran down and filled the gaps, nicely balanced with a rapid movement on the 3D chart. For a reasonable swing target.
Although with global macros in play at the moment, I wouldn't want to hold for too long.
TSLA Short Idea (or long)TSLA is back to the critical trendline resistance from ATH in late 2021. It had a big move above, which ended with a fakeout and hard rejection. Now it's back again. I like puts here, but I won't be holding on to them if it begins to break above this trendline again.
New high for 3 days straight.... aGaIn ToMoRrOw ? Bow down to the bulls, cant even hate because I ate with them too (bars). Tesla is bullish in my opinion and as we all can see, they are getting close to the target I've stated the last few days and if you a bear, watch if they reject at 226 but I don't really think there will be an issue until 233. I really want the bears to react in that area... scare them a bit-make them sell a bit at 233 and hopefully bears can have fun, potentially do a retest at 216
TSLA going parabolic soonConsolidation on the 1 month chart looks very ready to pop.
Targets 295 for T1,
501 for t2
610 for T3
What's daunting, I can see TSLA trading over MIL:1K in the near future.
Tesla - Possibility Of A BreakoutNASDAQ:TSLA can break out soon:
Over the past two weeks we saw an incredible stock market rally and also Tesla completely reversed the flash crash which we saw in the beginning of August. It is still quite possible that Tesla will break out of the long term triangle and immediately head back to the previous highs.
Levels to watch: $230, $400
Click chart above to see the detailed analysis👆🏻
Keep your long term vision,
Philip (BasicTrading)
#Tsla #TESLA cheet sheetHere are some of the important levels to keep an eye on.
Personally I'm still bearish in Tesla.
Will update on Tesla when we are closer to a clear H or L. For now just keep an eye on the current level at 184-185 ish for short term dir.
tsla C&Hstraight to technicals after tesla made this higher high on my trendline and proved we have an EMA to work on/trendline that it respects i would hope for it to either break through my 222 pivot or at least find support there (level by level) if we can hold the resistance as support and create another higher high we can look upwards to the next levels of 264 ,299 and ofc the 356.
The projection of the cup and handle is 78% from current price (cup and handle depth = projection after breakout
elon wishes to take tsla to the levels of 400 and based on the companys preformance of their robotaxi and other bots scifi they wish to introduce to the real world we could see this rise to a new ath
or ofc.. a big failure to 90.78.
companies need to preform to increase, unlike gold or silver or anything that works based on supply and demand so anticipating failure or success is literally impossible but if we believe in the company values in their leadership in their team that could up the chances. so if you trust elon can win the hardships there shouldnt be a reason the projection wouldnt work.
TSLA still a BUY ++++Next targets are $230 and $236 we are in a clear uptrend and broke above the $205 and $211 resistance levels I previously posted about
Tesla - Cup and HandleWell it's been a long and slow process for Tesla to get to this point and with so many problems and so much potential it doesn't take much to keep investors interested. Though for everyone buying, somebody is selling. So as October nears with the Robo-Taxi reveal, even though a true and perfected version of the FSD Technology may be 3 years away for these to be road tested and verified we can have hope and a little excitement for the Journey. As well Elon Musk does like to pull a rabbit out of his sleeve once in a while and it certainly has been a while. We shall see. In the meantime however the chart is showing a massive Cup and Handle Pattern with a recent breakout and closing in now for a potential retest at $260 and a long term target price at $328. Is the target for this year or perhaps next year, that I can't answer for you but I'm going along for the ride.
TSLA - breakout incoming TSLA - stock breaking above trendline resistance for $220. calls added in group. Lot of call flow coming as well. next resistance at $226 and $233.95. Stock is strong on indicator level.
Tesla (TSLA) Technical Analysis for August 20-23, 2024Current Market Data
Tesla's stock (TSLA) is trading at approximately $222.72, showing a 3.05% increase today. The broader market sentiment, including the S&P 500, has been relatively positive, with major indices closing higher. This upward momentum is largely driven by optimistic expectations around upcoming economic data, particularly from the U.S. and China.
Key Economic Events Impacting TSLA
FOMC Member Waller's Speech: Any hawkish comments could create volatility in the tech sector, including TSLA, as it may hint at future interest rate hikes.
CB Leading Index: A decline of 0.6% signals a potential slowdown in economic activity, which could weigh on growth stocks like Tesla this week.
Technical Analysis
Chart Overview: The chart shows TSLA in a rising wedge pattern, typically a bearish signal. Price action is nearing the upper boundary of this wedge, and the stock is trading around a significant volume profile zone between $222.05 and $222.99. There's a visible resistance level at approximately $235.15.
Support and Resistance:
Immediate Support: $219.82
Stronger Support: $212.29 (also aligning with a lower volume area)
Immediate Resistance: $222.99
Critical Resistance: $235.15
Volume Profile: The volume at the $222-$223 range indicates significant trading activity, meaning the price might struggle to break above this level. However, if it does, it could lead to a test of the $235 resistance.
MACD: On the 1-hour chart, the MACD is starting to show signs of divergence, which may indicate weakening bullish momentum.
Trading Strategy
For Tomorrow (August 20, 2024):
Bullish Scenario: If TSLA breaks above the $223 level with strong volume, consider a long position with a target around $230, keeping in mind the $235 resistance.
Bearish Scenario: If TSLA fails to sustain above $222, watch for a breakdown below $219.82, which could open the door for a move towards $212.
For This Week:
Bearish Outlook: Given the rising wedge pattern and potential economic headwinds, a bearish bias could be warranted if macroeconomic data disappoints or if TSLA fails to maintain the current upward momentum.
Scalping Strategy: Utilize the $219-$223 range for quick in-and-out trades, being mindful of the broader market's reaction to economic data.
Conclusion
While TSLA has shown strength recently, the technical indicators suggest caution, particularly with the stock trading near the top of a rising wedge pattern. Economic data throughout the week could provide additional volatility, making it important to stay alert to any changes in market sentiment.
Suggestions:
Monitor economic releases closely; these can heavily influence TSLA's price action.
Consider reducing exposure if TSLA starts to break down from the rising wedge, especially with broader market uncertainties.
TSLA is targeting 295 & 330 & 430Hello Traders,
I'm sharing a long position on TSLA, and I'll explain my reasoning below.
Entry Price: 223
Stop-Loss: 172
1st Target: 295
2nd Target: 380
Reason 1: The price has rebounded from the lower deviation of the uptrend channel (grey), not the lower deviation of the downtrend channel (blue). It is now targeting the upper deviation resistance line of the uptrend channel (grey) at 295.
Reason 2: A cup & handle pattern is progressing and will likely be confirmed if the price closes a weekly bar above 253 and the target will be around 330,380 and maybe 430 as shown below
NASDAQ:TSLA
TESLA DAILY BUY SET UPThe last daily retest wasnt lower than the previous daily low so i waited for a daily choch which was caused by a daily bullish candle being bigger than the last & lowest bearish candle on the daily retest. When the daily bullish candle closes, I then drop down to either a 4hr or a 1hr and wait for that retest to take it back up to the previous daily high
Tsla retesting 250$ soonTSLA looks to break out of the wedge again, this is the second time candle bodies have closed outside of the wedge to the upside. I expect 258$ again in a few weeks with a likely rejection in this range. I believe the stock will rip to close to 300$ by end of year, I expect it to fall to under 200$ again next year.
Summary:
Short-term - 258$
End of Year 295$
Next year mid- sub 200$
Conviction is everything! From Drawdown to ProfitMy pre-market video prepared us exactly for this move. That is why we had conviction in our trade and allowed the market to do what it has to do!
The nature of trading is chaotic - our job as traders is twofold - limit our risk (compared to our reward) and simplify the movement of a chart. While my charts may look anything but simple, if you watch my videos you'll understand just how simple it can be if you are prepared and understand how the market works.
Happy Trading :)
Bears disappointed me today I was impressed by the bulls, they just wouldn't let that 199 level go, bears you was right there or what's the play. Yes, I am permabear but it's because I like going straight to the point and I have balls of steel but don't make me beg for pennies chasing calls here if bulls open at 205 and you know the amateur will chase trying to reclaim 208 and next thing you know we at 212,217. Good gameplay but would rather the trendline break and 188 def make sense.
TSLA Short term outlook - Potential day trades today/TmrwThese are the algorithms I'm watching to see if tapering does proof itself for a lower time frame liquidity build.
Happy Trading :)
$TSLA close above its resistanceNASDAQ:TSLA is back with a close above it's $214 resistance on daily time frame, shouldn't take it long to get back over $223 & go for that gap fill to $235 area if holds here.
support at $214, $213 & $208
Tesla (TSLA) Technical Analysis for August 19, 2024:Chart Overview:
Support Levels:
210.58: A significant support level, previously tested multiple times.
186.80: A more distant support, representing a major lower boundary.
Resistance Levels:
219.76: Immediate resistance level, just above the current price.
234.60: A key resistance level if the price continues to rise.
Trend Lines:
The chart indicates an uptrend, with the price pushing towards the resistance levels.
However, the price is near the resistance level at 219.76, suggesting a potential pullback if this level holds.
Indicators:
Volume: There's a notable spike in trading volume during the recent upward movement, which may indicate strong buying interest.
Price Action: The price is following an upward channel, suggesting a bullish sentiment in the short term.
Catalysts & News:
FOMC Member Waller's Speech: Any hawkish or dovish comments could significantly influence TSLA’s direction. A hawkish stance (indicating potential rate hikes) could exert downward pressure on the stock, while a dovish stance (indicating rate pauses or cuts) might support further upward momentum.
Psychological Levels:
220: A psychological level near the resistance. If breached, it could lead to a test of 234.60.
200: A round number that often acts as psychological support.
Forecast Scenarios for August 19, 2024:
Bullish Scenario:
If FOMC Member Waller’s comments are dovish: TSLA could break through the 219.76 resistance level, leading to a test of 234.60. A sustained move above this level could signal continued bullish momentum.
Bearish Scenario:
If Waller’s comments are hawkish: TSLA might fail to break the 219.76 resistance, leading to a potential retracement towards the 210.58 support level. A break below this could see a further decline towards 186.80.
Trading Strategy:
Long Position: Consider entering if TSLA breaks above 219.76 with strong volume, targeting 234.60. Place a stop-loss just below 216.
Short Position: Consider entering if TSLA fails to break above 219.76 and shows signs of reversal, targeting 210.58 and possibly 186.80. Place a stop-loss just above 220.
This analysis provides a comprehensive overview based on the current technical setup. Keep in mind the potential impact of FOMC Member Waller's speech, as it could significantly influence market sentiment and TSLA's price action.
