This Trade is an anticipation trade. The market is currently bullish and TSLA has been forming a symmetrical triangle for over 2 months. It is nearing the Apex of the Triangle which means a move should occur soon. Next week I am expecting this chart to breakout of the triangle and to the upside, as price is currently holding the 200 EMA.
I see this base as having 170 points. A measured move from 500 gives us the Target 1 of 670 and Target 2 of 840.
The Chinese Electric Vehicle sector has been very hot. Maybe the U.S. names within the E.V. space get a taste of that action soon.
I can almost feel an upgrade around the corner.
Good Luck.
I see this base as having 170 points. A measured move from 500 gives us the Target 1 of 670 and Target 2 of 840.
The Chinese Electric Vehicle sector has been very hot. Maybe the U.S. names within the E.V. space get a taste of that action soon.
I can almost feel an upgrade around the corner.
Good Luck.