TSLA has almost constant news catalysts. The latest is the MSRP reductions to under the cap for
the $ 7500 federal subsidy at least presently in effect. Musk is betting that consumer's buying power
will be reduced in a recession but that demand will increase with the lowered prices and that
supply will keep up with factories capable to the challenge. Moreover, despite lowered prices
revenue and earnings will hold steady which will be the greatest of the challenges facing TSLA.
On Ichimoku on the 30 minute chart, price is above the thick green cloud signifying a strong
uptrend. In the past week, price crossed over the black SMA 200 and then retested and held
above it. Moreover, the SMA10 golden crossed the SMA50. The indicators show solid accumulation
as compared with distribution as well as higher relative buying volume. Although not shown
because it would clutter the chart, TSLA is currently trending in a channel on the VWAP
anchored at the last major pivot in a range between VWAP and one standard deviation above it.
TLSA is about to ride over the POC line of the volume profile a high volatility zone where buyers
have greater strength than sellers.
Overall, technically TSLA is trending up while noting that fundamentals are likly in a state
of change ( or chaos depending on your perspectives ) I see this as a risky swing long
setup with high reward if momentum accelerates.
the $ 7500 federal subsidy at least presently in effect. Musk is betting that consumer's buying power
will be reduced in a recession but that demand will increase with the lowered prices and that
supply will keep up with factories capable to the challenge. Moreover, despite lowered prices
revenue and earnings will hold steady which will be the greatest of the challenges facing TSLA.
On Ichimoku on the 30 minute chart, price is above the thick green cloud signifying a strong
uptrend. In the past week, price crossed over the black SMA 200 and then retested and held
above it. Moreover, the SMA10 golden crossed the SMA50. The indicators show solid accumulation
as compared with distribution as well as higher relative buying volume. Although not shown
because it would clutter the chart, TSLA is currently trending in a channel on the VWAP
anchored at the last major pivot in a range between VWAP and one standard deviation above it.
TLSA is about to ride over the POC line of the volume profile a high volatility zone where buyers
have greater strength than sellers.
Overall, technically TSLA is trending up while noting that fundamentals are likly in a state
of change ( or chaos depending on your perspectives ) I see this as a risky swing long
setup with high reward if momentum accelerates.
Trade active:
Call options had a nice pop today. Closed a few of them to buy AMC calls instead
and ride that train for a bit.
and ride that train for a bit.
Trade active:
CAll options are up 500% holding on for more of the ride.