Tesla is trading within a larger weekly-monthly distributive pattern. The 7-month trend has been within a BEARISH descending channel. Each prior attempt to test the upper trendline has formed a rally to has failed to follow through...an "upthrust." Longs are holding onto *RISK* into resistance.
If the 50% Fibonacci retracement holds the bias would continue...
Tesla is looklng deeply oversold and the earning report may be brutal. Or it might just be a set-up I am willing to take.
Reasons
1D RSI oversold deeply.
Entire market ready to bounce.
Squeeze looks imminent.
My stop is soft through 145-150.
Correct position sizing for these high % swings is crucial.
Good Luck
Looking at the charts it seems it will continue to hold a while before breaking its support on the downside and falling to the 200 MA level of 150 which also is 50% down from life high !!
It's Wait & Watch !!
Hoping to catch a bounce here. I think the strength of the bounce will depend on index as well.
Entry activating on open as per chart.
Reasons:
Support
RSI Turning
Blood Volume
Back over 200MA
Good Luck
On the daily 2$ Renko chart, TSLA is nearing it's exit oft the ichimoku cloud. This is a good sign for bears and would serve to be a profitable entry.
Enter Short If:
- 1 Renko box closes successfully under the cloud.
- Renko is below the Tenkan-sen
Exit::
- Trailing stop set 2 to 3 boxes behind entry.
Tesla Looks to be forming a dual pattern that would double confirm the pending leg down in the April-May time frame.
Elliot waves up and down with a Head and Shoulders pattern overlaid on top.
I expect to see a price overing over $100 if the bottom falls out.
It shouldn't cross below $100 in the Spring to Summer time frame.
Did this quickly so no stop loss shown.
#TSLA #TESLA Short Idea (Harmonics,3Drive,Head & Shoulders)
3 Drive
Head and shoulders
Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
$TSLA has a lot of resistance at the current levels. However, if Tesla can reclaim the 50 day, it is a sign of strength, and could lead it to the next high of ~$320.
A reclaim of the 50 day means: Gap is almost filled, $245 resistance broken, regression channel broken, and of course the 50 day is broken, leaving only $265 resistance, which isn't as strong.
A Bullish Cypher is forming on the daily charts of Tesla Motors Inc. (TSLA). Currently, price has completed the initial extension leg AB and CD when it is making a reversal at the 127.2% and 141.4% extension zone. The next leg, if the pattern is to remain valid, is a move downwards towards the 196.73 area where it meets the 78.6% Fibonacci Retracement level of the...
The volume was higher on red days than green days during the first top, and during the second top the volume is low (typical of a cup and handle) and also higher volume on green days than on red days, indicating a bullish chart. This may still turn out to be a double top, so investors should be cautious and watch the support.
Tesla must break 244-245 in order to breakout to the upside. 244.44 or 244.32. We had a very good chance monday and tuesday. If we break out 244 get ready to buy to get high. We need a 2% move up wednesday and then we are off to the races.
