Tesla continues to grind out bullish price action.
Has made 3 consecutive symmetrical wedges in short succession. The first broke though Oct 1. The second broke and Oct 12. Now in the third.
Price has come to rest on the Point of Control on the volume profile but has been steadily trading above it. This is the balance point on the market meaning that the market here recently agrees with this price.
The 10 Day Moving Average is currently acting as support, with the 20MA not far off. They are basically moving together as tightly wound support.
MACD looking very bullish. Has made a bullish crossover and the MACD line has come all the way down to the same level as on Aug 11 when the last bullish parabolic rise happened.
RSI support has been riding a short term uptrend. This line has just been breached, too early to call it broken, as a green day tomorrow would invalidate the crossover may return that RSI level to support. Interestingly is that underneath there is a long term RSI support which dates back to April.
Price has been following a channel since June. The upper edges have only been reached through parabolic action, which could return again, but are not a certainty by any means.
Everything on the chart looks very bullish to me. I bought a 475/505 Nov 20 Call vertical. The breakeven on the call spread follows the bottom green channel. I think we have good chance of at least a slow grind high. Quite possibly another spike but I made my bet based on the continued slow grind.
Has made 3 consecutive symmetrical wedges in short succession. The first broke though Oct 1. The second broke and Oct 12. Now in the third.
Price has come to rest on the Point of Control on the volume profile but has been steadily trading above it. This is the balance point on the market meaning that the market here recently agrees with this price.
The 10 Day Moving Average is currently acting as support, with the 20MA not far off. They are basically moving together as tightly wound support.
MACD looking very bullish. Has made a bullish crossover and the MACD line has come all the way down to the same level as on Aug 11 when the last bullish parabolic rise happened.
RSI support has been riding a short term uptrend. This line has just been breached, too early to call it broken, as a green day tomorrow would invalidate the crossover may return that RSI level to support. Interestingly is that underneath there is a long term RSI support which dates back to April.
Price has been following a channel since June. The upper edges have only been reached through parabolic action, which could return again, but are not a certainty by any means.
Everything on the chart looks very bullish to me. I bought a 475/505 Nov 20 Call vertical. The breakeven on the call spread follows the bottom green channel. I think we have good chance of at least a slow grind high. Quite possibly another spike but I made my bet based on the continued slow grind.