TSLA has been compressing in price since its last earnings (~86 days of consolidation so far). With earnings around the corner this should be the catalyst for the huge breakout. In my view TSLA will continue its uptrend from its bottom in January regardless of the results of earnings.
To compare TSLA's last ABCDE triangle that was noteworthy we'll look back in 2020 with the S&P inclusion news. Not saying there will be any bullish news this time but the pattern is all set up either way.
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Looking for a head and shoulder to form and drop down to the lower trendline + golden pocket. This will finish the ABCDE triangle pattern.
Keep in mind TSLA does not have to reach the lower trendline. It's possible the higher low can be front ran.
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Weekly Chart
- Ultimately must break thru the trendline that has been weighing TSLA down since its all time high
- TSLA looks to be in a rising channel from its bottom. Targeting somewhere in the upper trendline of the channel (~350-360)
To compare TSLA's last ABCDE triangle that was noteworthy we'll look back in 2020 with the S&P inclusion news. Not saying there will be any bullish news this time but the pattern is all set up either way.
---
Looking for a head and shoulder to form and drop down to the lower trendline + golden pocket. This will finish the ABCDE triangle pattern.
Keep in mind TSLA does not have to reach the lower trendline. It's possible the higher low can be front ran.
---
Weekly Chart
- Ultimately must break thru the trendline that has been weighing TSLA down since its all time high
- TSLA looks to be in a rising channel from its bottom. Targeting somewhere in the upper trendline of the channel (~350-360)
Comment:
If earnings miss but the higher low stays intact, I'd be confident for the next leg up. Key is to wait for earnings to play out and digest
Ideally two scenarios: