Clearly you can see a Pattern within a Pattern. A Short term Bearish Descending Triangle within a Longer term Bull Flag. The Bulls want the Flag to break out early to the upside and are just screaming for any excuse to make this happen but they are holding their breath for Q1 numbers to by far exceed or Surprise expectations. The Bears on the other hand are expecting the worst and will jump in with both feat Shorting Tesla if the numbers are mediocre or just slightly better than expected. I suspect there may be a False Breakout of the Bull Flag that will be quickly reined in by the Bears and the short term pattern will win out with the price breaking down through the support of the descending triangle by the end of next week at or before April 7th. This in itself is interesting as the Q1 Numbers aren't expecting to be published before April 24... As well' we have a strengthening or rising RSI and currently there is still a Bullish MA Cross as well as a macdLE+2 indicating Buy or accumulate at this point; however will the signals hold or be turned back? We just need to watch one day at a time. Stay Tuned. : )
Comment:
Wow. What a MOVE today. To be honest I did not see that coming. Not today anyway. A full Green Candle Breaking out above the Bull Flag has set up a whole new trend. My new Price target is $230. All signals remain as a Strong Buy. Tesla has too much going on at the moment to be caught out of the shares. (A) Sunday April 2 releasing much more positive Q1 Production numbers. (B) The Trip to China's sole purpose is to start discussions to open a second GigaFactory. (C) April 24th Q1 Financials being released will exceed expectations...