TSLA is going back into an uptrend after bouncing off support and breaking through resistance. I am considering and August 30 $260 call if Tesla opens flat/green tomorrow.
TSLA is at a pivotal crossroads. A potential cup and handle is nearly complete. A wedge has formed that is begging Tesla to go up or down. Tesla is nearing the top of the downtrend channel, and currently fighting at the 50-day moving average. All that with the P&D report coming on July 2 or 3. If the numbers are good, breakouts of the cup and handle, wedge, 50 day...
In the end of August of 2014, Tesla completed the formation of a cup with a short handle, and within a few trading sessions, catalysts such as the China Unicom charger deal and Stifel's upgrade of TSLA with a price target of $400 caused the stock to break out and confirm the pattern. A similar cup and short handle has formed today ahead of the Model X reveal. TSLA...
Recently with Tesla, Positive news has been ignored and negative news has been exaggerated. This irrational pessimism, combined with high short interest might indicate a rapid momentum upwards swing is in order. This is especially true if Tesla chooses to announce their CPO program or their stationary storage product soon.
$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.
I'm going to close my long position if the stock hits $220, and I will open a short position if the stock hits $219. Bearish signals all around: close below 200 DMA, bounced off red trend-line, lower volume, still a high RSI despite sell off. Looking to re-enter before earnings on November 5.
1. Each bottom represents an approximate $60 increase from the previous one ($55-$115-$175-$235) and on Friday we closed just above $235. 2. TSLA rebounded off of the orange trend line twice, seems like its going for a third time. 3. $235-$240 level has a history of being a support/resistance level dating back to March of this year. 4. The RSI shows TSLA is...
The 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.
Looking at flags, TSLA is oversold, volume trending down, hit 50 day moving average, and hit the bottom of the bollinger bands. TSLA is amplifying NASDAQ movement. Good news up ahead to help break out of the NASDAQ following (China, right hand drive, cross country trip, blowout Norwegian sales). Looks like $250 by the end of April.
Tesla is likely to reverse after hitting $180, and this will present a buying opportunity for the Q4 earnings report and call. There is likely to be good news during this call because Tesla never releases one piece of good news without another. Tesla will mention deliveries in Asia, their battery gigafactory, superchargers, and probably more.
This chart shows the perfect bounce of TSLA off of the ichimoku cloud.
This is a chart that combines user timwest and my own predictions as well as my own price targets. I encourage others to add their own price predictions using the polyline tool (4th tool menu from the top).
An analysis of the momentum of Netflix provides insight into how the stock should be traded to avoid being burned.
OPTIMIZED FOR FULL SCREEN. This chart contains an analysis of momentum lines, and gives a bull and bear projection with a bull and a bear play.